Strengthening Crypto Market Surveillance
The Central Bank of Brazil announced important adjustments to the rules governing virtual assets. The main change requires that transfers of cryptocurrencies or other crypto assets equivalent to or above US$ 10 mil, when involving self-custodied wallets, be automatically reported to Coaf.
Self-custodied wallets are those in which the user themselves controls the private keys, without intermediaries such as exchanges or authorized custodians.
Objective of the New Requirements
The measure aims to expand monitoring of operations that, by nature, provide less data for risk analysis. The BC highlighted that the changes strengthen the integrity of the sector and offer greater predictability to companies operating with digital assets.
Another important update determines the automatic reporting to Coaf of foreign exchange operations involving delivery or receipt of foreign currency in cash above US$ 10 mil, seeking to standardize regulatory treatment for live cash transactions.
Deadlines and Impacts
- Entry into force: October 1, 2026
- Deadline for PSAVs in operation to request authorization from the BC
The changes seek to balance innovation and security, reducing loopholes for illicit practices without harming the development of the crypto assets market in the country.