Brazil Introduces $10K Reporting Rule for Self-Custody Crypto Transfers

Brazil's Central Bank has introduced a new rule requiring institutions to report crypto transfers of $10,000 or more involving self-custody wallets. The measure, Resolution BCB No. 588, will take effect on October 1, 2026.

The rule does not ban self-custody or limit transaction amounts, but rather serves as a reporting trigger. This means users can continue to hold and transfer crypto through their own wallets controlled by private keys.

The Central Bank stated that self-custody reduces information available for monitoring and risk assessment, unlike regulated custodians who maintain customer and transaction data within supervised financial institutions.