Binance Adds Disclosures for Brazil’s Cross-Border Crypto

Binance will require Brazilian users to provide the purpose of international crypto transfers and identify the sender or beneficiary starting Nov. 1. The exchange will report the information monthly to the Central Bank of Brazil.

The requirements apply when users send crypto to their own account outside Brazil or receive crypto from their own account abroad. They also cover transfers involving individuals and companies that are not residents of Brazil. Transfers between Brazilian residents and local platforms will not change.

For withdrawals to nonresidents, users must select a purpose, such as transferring funds to their own account, buying goods or services, making a donation or paying for travel. Transactions of up to $50,000 will use a shorter list of purposes. Transactions above that amount will use the central bank’s expanded list.

Users must confirm the beneficiary’s type and identification details. When assets are sent to a self-hosted wallet, users must confirm that they own the wallet. Corporate accounts must state whether the beneficiary belongs to the same economic group.

Deposits from nonresidents will remain pending until users provide the required information. International transfers involving counterparties that are not institutions authorized to operate in Brazil’s foreign exchange market will be limited to $100,000 per transaction. The limit may rise to $500,000 after advance notice.

Binance may decline to process a transaction or return the assets if the required information is missing. The exchange notified Brazilian users of the changes on Oct. 2.

The requirements follow Resolution BCB No. 521/2025, which brings international virtual asset transfers into Brazil’s foreign exchange framework. Binance has described the disclosures as separate from Brazil’s Travel Rule, which is scheduled for introduction in 2027 and 2028. The rules follow Brazil’s earlier ban on using stablecoins for cross-border payments.