Brazil's Central Bank Imposes 24-Hour Review on High-Value Crypto Transfers

Brazil's Central Bank has announced that it will require some cryptocurrency transfers to undergo temporary delays starting from January 1, 2027. According to Resolution BCB No. 584, single transfers above $10,000 and combined daily transfers exceeding this level will be subject to a 24-hour review period.

The rule applies to transfers made to self-custody wallets or foreign virtual asset service providers after customers fund their accounts with Brazilian reais or cryptocurrency. This includes Bitcoin, stablecoins, and other virtual assets. The Central Bank designed the holding period as an anti-fraud safeguard rather than an asset freeze, allowing providers to review transactions before releasing funds.

Providers must maintain detailed daily records of crypto fraud and attempted fraud under the amended framework. They also need to document measures used to detect and prevent suspicious activity. This expansion of existing fraud controls follows a regulatory framework that took effect on February 2, bringing virtual asset providers under central bank supervision and establishing authorization requirements.

The measure applies to financial institutions, payment institutions, and other crypto service providers operating in the country's regulatory transition period. Firms that fail to comply could face longer holds or lower transaction thresholds.