Brazil sets $10,000 reporting rule for self-custody crypto

Brazil’s central bank will require covered financial institutions to report individual virtual-asset transfers worth at least the equivalent of $10,000 when funds move to or from self-custody wallets, beginning October 1, 2026. Resolution BCB No. 588 adds the transactions to Brazil’s existing anti-money-laundering reporting framework. The obligation falls on institutions that handle qualifying transfers, not on wallet holders. The measure does not ban self-custody, cap transfer amounts or require institutions to block transactions. Under the existing process, covered institutions must send reports to the Financial Activities Control Council, known as Coaf, by the next business day. They are also prohibited from telling customers or third parties that a report has been filed. The resolution refers to an individual transfer meeting the threshold and does not specify that multiple smaller transfers made on the same day must be combined for the automatic reporting trigger. Separate obligations to monitor and report suspicious activity remain in place. The central bank has said self-custody can reduce the information available for monitoring and risk assessment.