Starting in November, Binance will require Brazilian users to disclose the purpose of cross-border transfers and identify the counterparty.

BlockBeats news, October 5 — Binance will require Brazilian users to disclose the purpose of cross-border crypto asset transfers and identify the counterparty type starting November 1; corporate accounts must also state whether the counterparty belongs to the same economic group. Withdrawals cannot be submitted until the questionnaire is completed, deposits may remain pending, and in some cases incomplete information may lead to a return.

The rules apply to transfers with non-residents, including the user's own exchange accounts abroad; transfers between Brazilian residents are unaffected. Binance will report monthly in accordance with Central Bank Resolution No. 521/2025. Amounts up to $50,000 use a 10-item list, while larger amounts must be selected from 96 categories; when the counterparty is not authorized to conduct Brazilian foreign exchange business, some transfers are capped at $100,000. Self-custody wallets only require confirmation of ownership. This requirement is separate from the travel rule, which is planned to cover domestic transactions in 2027 and international transfers in 2028.