Brazil's $252 Billion Crypto Market Gets $10,000 Self-Custody Reporting Rule

Brazil will require regulated financial institutions to report large crypto transfers involving self-custody wallets starting Oct. 1. Under Resolution BCB 588, authorized institutions must notify Brazil's Financial Activities Control Council (Coaf) whenever they send or receive at least $10,000 in virtual assets from a self-custody wallet, regardless of suspicion. A related rule taking effect Jan. 1, 2027 adds a precautionary holding procedure for some outbound transfers, increasing scrutiny at the border between regulated platforms and self-custody.