Brazil to Delay Large Crypto Transfers to Foreign and Self-Custody Wallets
Brazil's new anti-fraud rules will require a 24-hour hold on crypto transfers exceeding $10,000 sent to foreign firms or self-custody wallets, effective next year.
Brazilian regulators are set to enforce a new rule next year that will impose a 24-hour holding period on certain cryptocurrency transfers exceeding $10,000. The measure targets transactions sent to foreign firms and self-custody wallets, as part of broader anti-fraud efforts.
The delay will apply to transfers where the recipient is not a regulated domestic entity, giving authorities time to screen for potential illegal activity. The exact implementation date has not been specified, but the change is expected to take effect sometime in the coming year.
Source: Cointelegraph