The Brazilian central bank requires the declaration of self custodial wallet transfers of over $10000 and prohibits business with unauthorized institutions

The Central Bank of Brazil has issued resolutions 588 and 589, requiring virtual asset service providers (VASPs) to declare self custodial wallet transfer in and out transactions with an amount of $10000 or more, and submit the data to the Financial Activities Control Board (COAF). Resolution 589 prohibits conducting business with unauthorized virtual asset service agencies or entities operating in Brazil. The new regulations will come into effect on October 1, 2026, and currently only 5 VASP have applied for licenses to operate in Brazil. (Source: Bitcoin.com News)