Binance will hold some Brazil crypto deposits until users explain where the money came from
Starting Nov. 1, Binance users in Brazil must disclose the purpose and counterparty type for crypto transfers to or from nonresidents. Corporate customers must also indicate whether counterparties are in the same economic group. Binance will report transfers monthly to Brazil’s central bank under Resolution BCB No. 521/2025. Withdrawals are blocked until users complete the questionnaire; incoming transfers may be held or returned if information is missing. The rules cover transfers to users’ own accounts on foreign exchanges but not transfers between Brazilian residents. Transfer purposes use 10 categories for amounts up to $50,000 and 96 for larger sums. Some transfers to unauthorized counterparties are capped at $100,000. The changes extend Brazil’s broader effort to place cross-border crypto activity within its foreign-exchange and financial-surveillance framework.
