Binance to Block Brazil Cross-Border Crypto Transfers From Nov. 1 Without Purpose and Counterparty Details

Binance will require Brazilian users to disclose the purpose and counterparty of cross-border crypto transfers from Nov. 1, CryptoSlate reported. Withdrawals cannot be submitted until the questionnaire is completed. Deposits may stay pending and, in some cases, be returned if the information is missing. Transfers between Brazilian residents are unaffected.

Binance will report the transactions monthly to Brazil’s central bank under Resolution BCB No. 521/2025. Transfers of up to $50,000 use a 10-purpose list; larger ones require one of 96 classifications. Some transfers are capped at $100,000 if the counterparty is not authorized in Brazil’s FX market. — link