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Brazil tightens crypto transfers to curb fraud

Brazil tightens crypto transfers to curb fraud

SAO PAULO, ⁠Aug 7 (Reuters) – Brazil’s central bank ⁠said on Friday that some ‌cryptocurrency transfers will have to be delayed by up to 24 hours under new ​anti-fraud rules.

• The central ⁠bank said the ⁠move reflects the growing use of ⁠virtual assets, ‌including stablecoins, to quickly move money obtained ⁠through financial scams.

• The rule, which takes ​effect ‌next year, applies to transfers ⁠over $10,000 sent ​to foreign virtual-asset firms or to self-custody wallets.

• The threshold can ⁠be measured per transaction ​or by a customer’s total transfers in a single day.

• The central ⁠bank said the delay could also…

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