New BC Rule on Cryptoassets: Surveillance Against Money Laundering and Fraud

With new requirements for the cryptoasset market, platforms are taking on an even more important role in identifying suspicious operations and preventing financial crimes.

New Central Bank Regulation

Starting January 1, 2027, the cryptoasset market will enter a new phase in Brazil, with increased oversight. This is when Central Bank Resolution No. 584 comes into effect. The measure expands the rules for fraud prevention. Additionally, it establishes the retention of certain virtual asset transfers for at least 24 hours before their execution.

The new rule applies to cryptoasset transfers intended for companies based abroad that operate in the virtual asset market. It also applies to wallets directly controlled by users, also known as "self-custodied" wallets. The retention will be applied to operations exceeding the equivalent of USD 10,000. This considers both a single transfer and the total volume moved by the client on the same day. The timeframe may also apply to operations below this amount when risk management mechanisms indicate the need for further analysis.

"It is important to highlight that the rule does not mean that every cryptocurrency transaction above USD 10,000 will be blocked for 24 hours, nor does it mean that the amount will be confiscated or that the account holder will lose this value. Practically speaking, it means that during this period, a broker, for example, will carefully verify the client's profile, transaction characteristics, destination of funds, and any signs of fraud or irregularity," evaluates Rafael Valentini, a lawyer specializing in Criminal Procedure and partner at FVF Advogados.

Although it does not represent a definitive block, the resolution is based on the principle that institutions have up to 24 hours to assess client profiles, transactions, and possible indicators of fraud or irregularities. The operation will only be released after this analysis. The creation of an analysis window can, therefore, increase the chances of identifying a suspicious operation. This occurs before the money moves on to other stages of a potential criminal scheme. Speed is precisely one of the characteristics that make digital assets attractive for financial operations. In just a few minutes, funds can be transferred between different wallets and platforms. They can even go to structures located outside the country.

"The retention creates a kind of 'safety window' between the receipt of funds and their departure to destinations considered harder to trace or recover. It will also not be sufficient to split deposits into amounts below the USD 10,000 threshold, as the safety net applies to the total transfer within that daily period," warns the lawyer.

Challenges and Fraud Prevention

However, the tightening of oversight does not necessarily mean that financial crime will disappear from the cryptoasset environment. One possibility is that criminal groups will seek alternatives that are less exposed to the control mechanisms of regulated platforms.

In this sense, self-custodied wallets, decentralized operations, and foreign platforms may gain even more relevance. The new regulation itself targets transfers intended for these environments. This is precisely because they represent an additional challenge for traditional control mechanisms.

Another challenge lies in the so-called fragmentation of operations. For example, a person may try to divide a larger transaction into several smaller transfers. The goal is to escape an objective limit. Therefore, monitoring cannot rely solely on the value of each transaction. It also needs to consider the overall movements and the financial behavior of the user. The new regulation also increases the importance of internal fraud prevention mechanisms. This applies to companies operating in the cryptoasset market.

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