On September 25, Bitcoin.com reported that the Central Bank of Brazil has issued resolutions No. 588 and No. 589. Resolution No. 588 mandates that institutions authorized by the Central Bank report transactions 'transferring to or from self-custody wallets' valued at or exceeding $10,000. The relevant data will be submitted to the Financial Activities Control Council (COAF), the anti-money laundering regulatory body, which may lead to the creation of a database of self-custody addresses. Resolution No. 589 prohibits transactions with virtual asset service providers (VASPs) that are not authorized to operate in Brazil and establishes an information-sharing framework. Both resolutions will take effect on October 1, 2026, which is also the deadline for VASPs to obtain operating authorization in Brazil. The Central Bank noted that self-custody wallets are controlled by users rather than VASPs, which 'may reduce the availability of information for monitoring and risk assessment.' Increased compliance and capital requirements have impacted the market: currently, only five VASPs have submitted applications for operating licenses.
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Brazil Central Bank Requires Reporting of Transactions Over $10,000 to Self-Custody Wallets
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