Binance Tightens Brazil Crypto Transfers with New Purpose and Counterparty Checks

Binance is introducing new requirements for Brazilian users trading cryptocurrencies with counterparts outside the country, starting November 1, 2026. The updates, made under Resolution BCB No. 521/2025, will apply to international crypto transactions between Brazilians and nonresidents, including documentation about the nature of the trade and the counterpart.

For international transfers, clients will need to fill out a questionnaire before making a transfer, providing information about the counterparty, such as whether it is an individual, corporation, bank, or exchange. Corporate clients may be asked whether the counterparty is in the same economic group.

Binance will require Brazilian users to disclose the purpose and counterparty of cross-border crypto transfers, with 10 possible transfer purposes for amounts up to $50,000 and 96 for transfers over $50,000. The customer will need to select a purpose that matches the real purpose of the transfer.

Transfers between accounts owned by the customer in a foreign currency are considered international transfers. The customer acts as the counterparty and confirms that the accounts involved belong to the same owner.

Binance will report the transfer to regulators according to appropriate regulatory definitions. Transfers to other self-hosted wallets owned by the customer are handled separately, with no purpose for the transfer required, but the customer will need to verify their identity.