Brazil Slows Crypto Transfers Over $10,000 Amid Illicit Fund Concerns

The Central Bank of Brazil has introduced new anti-fraud rules to prevent illicit funds from being quickly moved through cryptocurrency transactions. As part of this measure, large crypto transfers above $10,000 will face a delay of up to 24 hours before clearing.

This rule applies to transfers sent to foreign virtual asset firms and self-custody wallets, and can be triggered by either a single transaction or the combined value of multiple transfers in one day. The Central Bank said this move is necessary due to the growing use of cryptocurrencies for financial scams.

The delay is designed to give exchanges and financial institutions more time to review suspicious transactions before funds can be moved further. This is not an asset freeze, but rather a temporary hold to allow compliance teams to examine transactions more thoroughly.