Binance Tightens Rules on Brazilian Crypto Transfers
Binance, the leading cryptocurrency exchange, has announced that it will implement new regulations for Brazilian users starting November 1. The new rules will require users to provide the purpose of a transaction and counterparty information for cross-border virtual-asset transfers. This move comes in response to Central Bank of Brazil Resolution BCB No. 521/2025.
According to the new regulations, users must complete a questionnaire before requesting withdrawals, and deposits may be put on hold or returned to the sender if the required information is not submitted. The procedure will not apply to virtual-asset transfers between residents of Brazil.
The exchange will also report details of cross-border virtual-asset transactions to Brazil's central bank each month, as required by the resolution. For cross-border virtual-asset transfers of $50,000 or less, users must choose from 10 categories describing the purpose of the transaction. For transfers exceeding $50,000, users must select the applicable purpose from 96 categories.
Some cross-border virtual-asset transfers will also be capped at $100,000 when the counterparty is an entity not authorized in Brazil's foreign-exchange market.