Brazil's Central Bank Implements 24-Hour Delay for Certain Crypto Transfers to Combat Fraud
Brazil's Central Bank Implements 24-Hour Delay for Certain Crypto Transfers to Combat Fraud
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Brazil's Central Bank (BCB) has introduced Resolution 584, requiring covered crypto service providers to delay certain virtual asset transfers for 24 hours. This measure aims to prevent fraud and amends existing payment service rules to encompass virtual asset services.
Brazil’s central bank has introduced a rule requiring covered crypto service providers to delay certain transfers for 24 hours as a precaution against fraud. The Central Bank of Brazil (BCB) published Resolution 584 on Friday, amending existing fraud-prevention rules for payment services to also cover virtual asset services. The rules require qualifying transfers to be