Binance has announced new checks for cross-border crypto transfers involving Brazilian users from Nov. 1, requiring transaction purposes and counterparty information before some deposits and withdrawals can be processed.
Summary
- Binance will require Brazilian users to provide transfer purposes and counterparty details starting November 1.
- Withdrawals cannot be submitted without required information, while some incoming deposits may remain pending temporarily.
- Transfers between Brazilian residents remain unchanged, while international transfers fall under foreign exchange reporting rules.
- Transfers above $50,000 require one of 96 purpose codes instead of the simplified…
