Binance to freeze some Brazil crypto deposits from Nov. 1

Binance will require Brazilian customers to complete a transfer questionnaire for cross‑border crypto starting Nov. 1. Withdrawals to nonresidents cannot be submitted until the questionnaire is completed; incoming deposits may be held or returned if users do not provide the requested information. The exchange will send monthly reports to Brazil’s central bank under Resolution BCB No. 521/2025 and will provide additional details before the changes take effect.

The rules apply to individuals and companies sending crypto to or receiving crypto from nonresidents. Transfers up to $50,000 use a simplified list of 10 transfer purposes; larger amounts must be classified from a list of 96 purposes. Corporate accounts must indicate whether the counterparty is part of the same economic group. Certain international transfers are capped at $100,000 when the counterparty is not authorized to operate in Brazil’s foreign‑exchange market.

Customers moving assets to their own account on a foreign exchange will see purpose and counterparty fields prefilled and will only need to confirm the declaration. Self‑custody wallets follow a different process: owners must confirm wallet ownership but do not need to provide a transfer purpose. Binance will report transactions involving self‑hosted wallets to the central bank under a separate category.

Regulated institutions must report crypto transfers of at least $10,000 to or from self‑custody wallets to the Financial Activities Control Council, Coaf, by the next business day, even when transactions are not flagged as suspicious. New central‑bank rules under Resolution BCB 584, effective Jan. 1, introduce precautionary holding procedures that can delay certain outbound virtual‑asset transfers while additional checks are carried out.

Brazil has tightened oversight of crypto settlement and stablecoin use. Settlement between some foreign‑exchange providers and overseas counterparties must pass through licensed FX transactions or qualifying nonresident real accounts. Tax filings record R$1.13 trillion in declared stablecoin transactions from August 2019 through December 2025, representing about 72% of declared crypto activity in that period.

Market estimates show $252.5 billion in crypto flows involving Brazil between July 2025 and June 2026. During that period Brazil ranked first on an adoption index and second for cross‑border flows; overall activity fell 1.6% year‑on‑year. Transfers between Brazilian residents are not affected by the new Binance disclosure and identification requirements.