Brazil's Central Bank Requires Coaf Reports on Self-Custody Crypto Transfers of USD 10,000 or More

The Central Bank of Brazil (BCB) issued Resolution BCB 591 on 30 September 2026, amending Circular 3,978, its anti-money laundering rule for authorised institutions. Institutions must now report to Coaf, Brazil's financial intelligence unit, transfers of virtual assets to or from self-custody wallets worth the equivalent of USD 10,000 or more. The same resolution revokes Resolution BCB 588 of 23 September 2026.

What the Amended Circular Requires

Resolution 591 adds item V to article 49 of Circular 3,978, which lists operations that must be reported to Coaf. It covers “operations relating to transfers of virtual assets to or from self-custodied wallets” of a value equal to or above the equivalent of USD 10,000.

Article 50 of the Circular, which applies to these reports, requires institutions to make them without informing the parties involved or third parties.

Reporting Deadline for 2026 Operations

A new paragraph 2 of article 49 sets a transitional rule. Reports on virtual-asset transfers under item V, and on foreign exchange operations with delivery or receipt of foreign currency in cash of USD 10,000 or more under item IV, contracted between 1 October and 31 December 2026, must be made on the first business day of January 2027.

Resolution 588 Revoked

Resolution BCB 588, published in the Official Gazette on 25 September 2026, had added the same items IV and V to article 49, with effect from 1 October 2026, but without the transitional paragraph. Resolution 591 revokes it. Resolution 591 was published in an extra edition of the Official Gazette on 1 October 2026 and took effect on the date of publication.