Binance Requires Brazilian Crypto Transfers to Disclose Purpose

Binance has announced new procedures for Brazilian users transferring crypto across borders, requiring additional information on each transfer starting November 1.

The exchange will ask customers to disclose the purpose of each transfer and identify the counterparty type. Corporate accounts must also state whether the other party belongs to the same economic group.

Binance will report these transactions monthly to Brazil's central bank under Resolution BCB No. 521/2025, which brings international virtual-asset transfers into the country's foreign-exchange framework.

The rules apply to individuals and companies transferring crypto to or from nonresidents, including customers moving assets to their own accounts on foreign exchanges. Transfers between Brazilian residents are unaffected.