Brazilian Lawmaker Proposes Repeal of Cryptocurrency Transfer Rule
A federal representative in Brazil has proposed a project to cancel a new rule requiring cryptocurrency exchanges to retain transfers for 24 hours before sending them to foreign entities or self-custody wallets.
The proposal, submitted by Representative Julia Zanatta (PL/SC), aims to suspend the effects of Resolution BCB nº 584/2026, published on January 7th. The resolution extends anti-fraud measures to cryptocurrency exchanges and other virtual asset service providers.
The rule, set to take effect on January 1st, 2027, requires exchanges to retain transfers for 24 hours if they exceed $10,000 in value or are part of a series of transactions by the same client on the same day. The proposal argues that there is no explicit legal basis for this restriction.
Zanatta's justification states: 'We do not question the legitimacy of preventing frauds. We question the existence of a legal foundation for this limitation.'