Purpose, counterparty and transaction limits
For withdrawals to a non-resident, users pick a purpose from a short list for transfers up to $50,000, or from a fuller Central Bank list above that amount, then confirm the beneficiary type and identification details. Examples include a transfer to the user’s own account, the purchase of goods or services, a donation, or travel. Users sending assets to a self-hosted wallet only confirm that they own it, while corporate accounts must also state whether the beneficiary belongs to the same economic group. Deposits from non-residents remain pending until the same information is provided. International transfers involving counterparties that are not institutions authorized in Brazil’s foreign exchange market are capped at $100,000 per transaction, with the possibility of rising to $500,000 after advance notice. Binance said a transaction may not be processed, or may be returned, if the required information is missing.
Not the Travel Rule, but a wider tightening
Binance stressed the update is not the Travel Rule, which Brazil will phase in during 2027 and 2028 and communicate separately. The new requirements are instead a step in Brazil’s effort to bring crypto into its foreign exchange framework, following an earlier move that banned stablecoins for cross-border payments. They also sit apart from the Travel Rule compliance obligations that U.S. virtual asset service providers already follow.
