Brazil Delays Crypto Transfers Above $10,000 Amid Fraud Concerns

Brazil's central bank has announced new rules for cryptocurrency transfers that could delay transactions above $10,000 for up to 24 hours. The measure targets overseas platforms and self-custody wallets amid concerns over fraud.

The rule applies when a customer sends more than $10,000 in a single transaction or exceeds the threshold cumulatively during one day. Transactions meeting this limit may face a temporary delay while financial institutions conduct additional checks.

The central bank stated that the measure does not freeze assets permanently and allows customers to complete transfers after the review period. However, the institution can hold approved transactions for up to 24 hours before allowing them to proceed.