Binance to Tighten Rules on Brazilian Users’ Cross-Border Crypto Transfers From Nov. 1

Binance will require users in Brazil to provide the purpose of a transaction and counterparty information for cross-border crypto transfers starting Nov. 1.

Wu Blockchain reported on Oct. 4 that Binance will introduce the verification process for Brazilian users sending virtual assets across borders beginning Nov. 1. Users will be required to confirm the purpose of the transfer and provide information on the transaction counterparty.

Users must complete a related questionnaire before requesting a withdrawal. For deposits, processing may be put on hold if the required information is not submitted, and some transactions may be returned to the sender. The procedure will not apply to virtual-asset transfers between residents of Brazil.

The move follows Central Bank of Brazil Resolution BCB No. 521/2025. Under the rule, Binance plans to report details of cross-border virtual-asset transactions to Brazil’s central bank each month.

For cross-border virtual-asset transfers of $50,000 or less, users must choose from 10 categories describing the purpose of the transaction. For transfers exceeding $50,000, users must select the applicable purpose from 96 categories.

Some cross-border virtual-asset transfers will also be capped at $100,000 when the counterparty is an entity not authorized in Brazil’s foreign-exchange market.