Brazil's central bank issues Resolution BCB 584 requiring exchanges to delay large crypto transfers abroad up to 24 hours pending risk review.
Regulation & Gov ·
Brazil's central bank has issued Resolution BCB 584, which requires cryptocurrency exchanges to hold large outbound transfers for up to 24 hours while conducting risk review before releasing funds abroad. According to reporting, exchanges may release transfers early once a documented risk assessment is completed. The resolution applies broadly: even transfers below $10,000 can be delayed if flagged during the review process.
The mechanism grants exchanges discretion to expedite releases after completing their risk evaluation, creating a conditional hold rather than an absolute delay. The $10,000 threshold mentioned does not represent a hard exemption but rather an example of smaller amounts that remain subject to potential holds if risk factors are identified.
The resolution's full scope—including which specific risk criteria trigger holds, whether penalties apply for non-compliance, and how exchanges plan operationally to conduct 24-hour reviews—has not been detailed in available reporting. The impact on liquidity and cross-border settlement timelines remains to be assessed as exchanges implement the new requirement.