Important Binance Announcement Concerning Brazilian Users

Binance says deposits from abroad may remain pending or be returned if users fail to provide the required transfer information. Binance has told users in Brazil that from November 1, they must state the purpose of every crypto transfer to or from outside the country and identify who is on the other end. The exchange will report these operations to Brazil’s Central Bank every month. The change brings international crypto transfers into Brazil’s foreign exchange rules, and nothing goes through without the answers. Binance Sets New Requirements for International Transfers Binance outlined the changes in an FAQ, explaining that users sending crypto abroad or receiving it from overseas will need to state the purpose of the transfer and identify the counterparty. Corporate accounts will also have to disclose whether the counterparty belongs to the same economic group. The exchange stressed that this is not the Travel Rule. That requirement will apply separately to domestic and international transactions in 2027 and 2028, respectively. For the new Brazilian foreign-exchange process, a transfer is considered international when the other party is outside Brazil or when users move their own ...