Overview
- The Central Bank of Brazil published Resolution BCB No. 584 on Aug. 7 and set the rule to take effect on Jan. 1, 2027, requiring holds of up to 24 hours on qualifying transfers.
- The rule covers transfers whose value exceeds the equivalent of $10,000 in a single transaction or in cumulative transfers on the same day to foreign virtual‑asset service providers or to self‑custody wallets.
- Exchanges must notify customers when a transfer is placed on hold, keep records of fraud attempts, and may release funds early only after a documented risk review finding no signs of wrongdoing.
- The central bank may extend holds beyond 24 hours, lower or widen the $10,000 threshold, or restrict early releases if it finds noncompliance, which shifts more operational and legal responsibility onto domestic platforms.
- Regulators cite a surge in on‑chain illicit flows as the rationale, industry groups warn the rule will add costs and friction for legitimate users and could affect exchange competitiveness, and similar withdrawal‑delay ideas are under consideration in other countries such as Japan.