Brazil tightens the regulation of encrypted money transfers to curb fraud

On 8 August, Reuters reported that the Central Bank of Brazil had announced a new anti-fraud rule that would delay the transfer of some encrypted currency for up to 24 hours and that the new rule would come into effect next year and would apply to transfers of more than $10,000 that were sent to a virtual asset company outside the country or to a self-hosted wallet, with a threshold to be calculated on the basis of a single transaction or a single-day total transfer from a customer. According to the Central Bank of Brazil, this reflects the increasing use of virtual assets (including sedentary currency) for the rapid transfer of funds derived from financial fraud. The Central Bank stressed that the measure was not an asset freeze and would not permanently prevent transfers, but could also apply to other transactions that required closer scrutiny。