Brazilian Senate Panel Backs Cash-Use Limits, Keeps Ban on Cash for Property Deals

The National Monetary Council will set thresholds after consulting the anti-money-laundering watchdog, with a supplementary vote required before the proposal can advance to the Chamber of Deputies.

Overview

Senators on the Constitution and Justice Commission approved a substitute to PL 3.951/2019 in an initial, unanimous vote, triggering a mandatory supplementary round.
The measure removes fixed numerical caps from the bill and assigns the National Monetary Council, after hearing COAF, to define maximum values and operating rules for cash.
The text preserves an explicit prohibition on using physical cash in real estate transactions such as property purchases.
Forthcoming rules must cover bank‑intermediated cash operations and cash payments of boletos and cheques, with amounts above the ceiling to be carried out electronically.
Backers say the goal is to curb money laundering and tax evasion, and any final law would still require approval by the Chamber of Deputies and presidential sanction.