Brazil Imposes 24-Hour Hold on Large Cryptocurrency Transfers

Brazil is implementing new regulations on cryptocurrency transactions over $10,000. The Central Bank of Brazil will introduce a temporary delay of up to 24 hours for transfers exceeding this amount as part of fraud prevention measures.

The regulation aims to combat the increased adoption of digital currencies and stablecoins by scammers. These assets are easily transferred across borders in a short time, making it challenging to detect illicit transactions.

The new rules will apply to foreign virtual asset service providers and self-custody wallets. Transactions below $10,000 will not be subject to the delay.