Brazil targets crypto fraud with up to 24-hour transfer hold
Summary
Brazil’s central bank will require virtual asset service providers to impose precautionary holds of up to 24 hours on certain crypto transfers to foreign platforms or self-custody wallets. The rule applies to transfers above $10,000 in a single transaction or across a customer’s daily activity, and to other transfers flagged under risk-management policies. Providers must notify customers, keep fraud records, and may release funds early if checks are completed. The measures take effect Jan. 1, 2027. The move reflects a broader global crackdown on crypto scams, alongside similar but mostly nonbinding anti-fraud proposals in Japan and growing warnings from European regulators.
