Brazil Slows Down Crypto Transfers Above $10K Amid Growing Scam Concerns
Brazil's central bank has announced new regulations to combat cryptocurrency scams in the country. The rules, set to take effect in 2027, will introduce a 24-hour delay for transfers exceeding $10,000 made to self-custody wallets or foreign virtual-asset service providers.
The delay aims to give institutions more time to spot suspicious activity and prevent funds connected to scams from being transferred past recovery. However, the central bank emphasized that this does not mean freezing or permanently blocking cryptocurrency assets; rather, it will allow for legal transactions to take place after necessary checks are completed.
The new regulations come as Brazil's cryptocurrency market continues to grow rapidly, with an on-chain value of $318 billion between July 2024 and June 2025, roughly one-third of the total for Latin America. However, this expansion has also drawn in criminal actors, with over 50% of suspected illicit inflows to certain Brazilian exchanges in 2025 connected to drug traffickers, sanctions evaders, and money-laundering networks operating in China.