TLDR Brazil’s central bank will require covered institutions to report crypto transfers of $10,000 or more to or from self-custody wallets starting October 1, 2026. The rule, Resolution BCB N
Brazil’s central bank will require covered institutions to report crypto transfers of $10,000 or more that move to or from self-custody wallets. The rule takes effect on October 1, 2026.
The Central Bank of Brazil published Resolution BCB No. 588 on September 23. It amends Circular No. 3,978, the country’s anti-money laundering and counter-terrorist financing framework.
The rule adds a new item to Article 49 of the circular. It covers virtual asset transfers equal to or above the equivalent of $10,000 when a self-custody wallet is involved.
Covered institutions must report these transfers to the Financial Activities Control Council, known as Coaf. The rule applies to transfers sent to a self-custody wallet and to transfers received from one.
The resolution does not ban self-custody or cap how much a user can move. It also does not require a qualifying transfer to be blocked. B3 reported that the $10,000 figure is a reporting threshold, not a transaction limit.
The central bank said self-custody can “reduce the availability of information for monitoring and risk assessment purposes.” It noted that assets held by an authorized institution keep customer records inside a supervised entity.
Under existing rules, Article 49 reports must be sent by the next business day. Institutions cannot tell customers or third parties that a report has been made.
Individuals who hold self-custody wallets do not have to file anything themselves. The duty falls on institutions that handle a qualifying transfer.
The measure does not create a new crypto tax, fee, or levy. Brazil’s crypto taxes are handled under separate rules.
Resolution 588 is separate from Resolution BCB No. 584, an anti-fraud rule published in August. That rule allows providers to hold certain outbound transfers to foreign providers or self-custody wallets for up to 24 hours starting January 1, 2027.
Resolution 584 can apply when a single transfer passes the threshold or when a customer’s transfers reach it in total over one day. Providers can release a transfer early after finishing a risk review.
Resolution 588 has no same-day aggregation language. Its text refers only to a single transfer of $10,000 or more. A Brazilian regulatory analysis found the same difference between the two rules.
This does not remove other monitoring duties. Institutions must still review transactions that may point to money laundering and report suspicious cases through a separate process.
Brazil has been adding crypto rules in stages since 2025. These include licensing, capital, governance, and security requirements for service providers, plus limits on crypto in the regulated cross-border eFX system.
The central bank also issued Resolution BCB No. 589 on September 23. It covers supervisory data from crypto service providers, including customer balances, custody positions, proof of reserves, and staked assets.
Those data rules take effect on January 1, 2027. Starting November 6, 2026, authorized financial and payment institutions will face limits on dealing with crypto counterparties that are not authorized in Brazil, subject to exceptions.
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