Brazil requires reporting of transfers of $10,000 or more to and from self-custody wallets
Resolutions 588 and 589 from Brazil's Central Bank, issued on Sept. 24, take effect on Oct. 1, per TFTC.
Virtual asset providers authorized by the central bank must report to COAF, the country's financial intelligence unit, every transfer of $10,000 or more to or from self-custody wallets. Resolution 589 bars licensed institutions from dealing with providers that lack central bank authorization. According to TFTC, about 120 crypto providers operate in Brazil and only 5 have applied for a license.
Sources: TFTC