Brazil Implements 24-Hour Hold on Cryptocurrency Transfers Exceeding $10,000
The new regulations mandate a precautionary 24-hour hold on funds that exceed $10,000 for individual or cumulative daily transactions. This measure allows Virtual Asset Service Providers (VASPs) to conduct a risk assessment of these transactions. The Central Bank of Brazil emphasized that these actions are preventive in nature.
The new regulations mandate a precautionary 24-hour hold on funds that exceed $10,000 for individual or cumulative daily transactions. This measure allows Virtual Asset Service Providers (VASPs) to conduct a risk assessment of these transactions. The Central Bank of Brazil emphasized that these actions are preventive in nature.
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