Brazilian Central Bank Mandates Up to 24-Hour Delay for Cryptocurrency Transfers

New Regulations for Cryptocurrency Transfers

On August 7, the Brazilian Central Bank introduced new regulations that impose up to a 24-hour delay on certain cryptocurrency transfers, aimed at combating fraud, as reported by Reuters.

The new rules apply to transfers exceeding $10,000, specifically those sent to foreign cryptocurrency companies or self-managed wallets. The threshold is determined by both the amount of a single transfer and the total amount transferred by the same customer in one day.

The Central Bank noted that cryptocurrencies, including stablecoins, are often used to quickly move funds obtained through financial fraud...