Bitcoin.com reported that the Central Bank of Brazil has mandated the reporting of cryptocurrency transfers exceeding $10,000 involving self-custody wallets. The Central Bank explained that this measure aims to strengthen supervision over Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) and to address the lack of transaction information for wallets directly controlled by users. According to Central Bank Resolution 588, Virtual Asset Service Providers (VASPs) licensed in Brazil must report cryptocurrency transfers of $10,000 or more to or from self-custody wallets. Another Resolution, 589, prohibits transactions with virtual asset service providers not licensed in Brazil. The related regulations are scheduled to take effect from October 1.
