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Brazil Tightens Crypto Oversight with Self-Custody Transfer Reporting Mandate

Guavy AI Editorial Team
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MEW
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The Central Bank of Brazil has introduced new rules to strengthen regulatory oversight over cross-platform and self-sovereignty transactions in the country's digital asset market.

Resolution BCB No. 588, effective October 1, 2026, amends existing anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks to target decentralized storage.

The new rules mandate that regulated financial institutions, payment providers, and virtual asset service providers automatically report any virtual asset transfer exceeding $10,000 (USD) from or to a self-custody wallet.

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