Brazil Slows Down Cryptocurrency Transfers to Combat Financial Scams

Brazil's central bank has implemented new anti-fraud rules for cryptocurrency transfers. The measure aims to curb financial scams by delaying some transfers by up to 24 hours.

The rule applies to transactions over $10,000 sent to foreign virtual-asset firms or self-custody wallets. The threshold can be measured per transaction or by a customer's total transfers in a single day.

The central bank stated that the delay could also apply to other transactions requiring closer scrutiny under risk-management policies. However, it emphasized that this is not an asset freeze and does not permanently block transfers.