Brazil to Introduce 24-Hour Delays for Large Crypto Transfers From 2027

Brazil's central bank will require crypto service providers to hold certain outbound transfers for up to 24 hours starting Jan. 1, 2027, under Resolution BCB No. 584 published Aug. 7. The delay applies when a single transfer, or a customer's combined transfers in one day, exceeds $10,000 and is directed to self-custody wallets or foreign virtual asset service providers. Smaller transfers may also be delayed if a provider's risk controls flag them for additional review. The rule covers major cryptocurrencies such as Bitcoin and fiat-backed stablecoins. The Central Bank of Brazil said the measure is aimed at curbing the rapid movement of funds tied to financial fraud, noting increased use of virtual assets, especially stablecoins, to move illicit proceeds quickly. The 24-hour window is framed as a precautionary anti-fraud step rather than an asset freeze. Before releasing or rejecting a transfer, providers must evaluate the customer's risk profile, transaction details, recipient and the jurisdiction involved. Customers must be notified when a transfer is being held and told the restriction is temporary. Transfers can be released before the full period ends if a documented risk review supports proceeding. Noncompliant firms could face stricter action from the central bank, including longer holding periods or extending the procedure to smaller transactions. The new requirement extends Brazil's payment fraud framework into the virtual asset sector and follows a series of regulatory moves over the past year. A framework effective Feb. 2 brought virtual asset providers under central bank supervision and set rules on authorization, governance, security, anti-money laundering controls and certain foreign exchange activities. Brazil has also started treating some stablecoin and cross-border virtual asset transactions as foreign exchange operations. Further limits announced in May restricted the use of crypto and stablecoins to settle certain regulated cross-border payment transactions between payment providers and overseas counterparties. The impact could be significant given Brazil's market size. The country ranked fifth in Chainalysis' 2025 Global Crypto Adoption Index, behind India, the United States, Pakistan and Vietnam. Chainalysis estimates Brazil received $318.8 billion in cryptocurrency between July 2024 and June 2025, nearly one-third of Latin America's crypto activity. Stablecoin purchases accounted for more than half of Brazilian real-denominated crypto purchases in that period. Resolution 584 takes effect Jan. 1, 2027, giving exchanges and other covered providers time to adjust fraud monitoring and transaction review systems. (Source: Brazil's central bank; Chainalysis)