Brazil will require regulated financial institutions to report crypto transfers of $10,000 or more involving self-custody wallets starting October 1. Under Resolution BCB 588, institutions must notify Coaf within one business day for qualifying transactions, regardless of whether they are deemed suspicious. The measure gives authorities visibility into large movements between regulated platforms and self-custody wallets. A tighter rule takes effect January 1, 2027, potentially delaying some outbound transfers. Brazil’s crypto market, the largest in Latin America, reached $252.5 billion in activity, despite a 1.6% contraction during the latest measured period.
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