Brazil Introduces $10K Self-Custody Reporting Rule on October 1

Brazil is set to introduce new reporting requirements for self-custody crypto transfers from October 1, 2026. The Central Bank of Brazil published Resolution BCB No. 588 on September 23, which adds qualifying virtual-asset transfers involving self-custodied wallets to the list of specific transactions that must be reported to COAF, Brazil's financial intelligence unit.

The rule requires regulated financial institutions to report crypto transfers worth at least the equivalent of $10,000 when funds move to or from self-custody wallets. This is a reporting requirement, not a ban on self-custody or a $10,000 transfer limit. Users can still hold their own private keys and transfer amounts above the threshold.

The obligation falls on covered institutions subject to the Central Bank's anti-money-laundering rules. The new provision covers transfers of virtual assets to or from a self-custodied wallet when the value equals or exceeds $10,000. This applies in both directions: crypto sent from a regulated institution to a self-custody wallet and crypto received by a regulated institution from a self-custody wallet.