Brazil to impose 24-hour hold on large crypto transfers to foreign firms

Brazil's central bank announced on Friday that it will introduce a new anti-fraud measure requiring some cryptocurrency transfers to be delayed by up to 24 hours. The rule, which takes effect next year, is designed to curb the growing use of virtual assets—particularly stablecoins—to quickly move money obtained through financial scams.

The restriction applies to transfers exceeding $10,000 sent to foreign virtual-asset firms or to self-custody wallets. The threshold can be calculated either per individual transaction or based on a customer's total transfers within a single day.

The central bank noted that the delay could also be applied to other transactions that warrant closer scrutiny under risk-management policies. It clarified that the measure does not constitute an asset freeze and will not permanently block transfers; it is intended solely as a temporary hold to allow for additional review.

This move reflects a broader regulatory push in Brazil to address the misuse of digital assets in fraudulent schemes, particularly those involving stablecoins, which are often used for rapid cross-border fund movement.