Brazil Tightens Crypto Oversight: New Rules Mandate Reporting for Self-Custody Transfers Exceeding $10,000

The Central Bank of Brazil has published Resolution BCB No. 588, introducing stringent anti-money laundering (AML) and counter-terrorist financing (CTF) reporting mandates.

• Brazil's Central Bank has implemented Resolution BCB No. 588, requiring financial institutions to report self-custody crypto transfers exceeding $10,000.
• This new regulation aims to enhance AML/CTF oversight by targeting transactions involving non-custodial wallets, with reporting due by the next business day.
• While not banning self-custody, the rules increase operational burdens for market participants and highlight the tension between financial self-sovereignty and regulatory compliance.

Topics: Legal regulatory, Jurisdictions, Compliance, Aml antimoneylaundering, Enforcement actions litigation, Emerging hubs, Kyc aml frameworks

Tags: #brazil #cryptoregulation #aml #ctf #selfcustody #vasps #reporting #resolutionbcbno588 #coaf #decentralizedfinance

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NRS Issues New Tax Guidelines For Cryptocurrency, Virtual Assets

• Nigeria Revenue Service (NRS) has released new tax guidelines for virtual assets and cryptocurrencies under the Nigeria Tax Act, 2025.
• These guidelines aim to enhance tax compliance and broaden revenue collection from the expanding digital economy, targeting taxpayers, VASPs, and P2P operators.
• The move signifies Nigeria's evolving approach to regulating digital assets, providing clarity and certainty for participants in the virtual asset ecosystem.

Topics: Jurisdictions, Legal regulatory, Compliance, Cross jurisdictional policy, Securities law classification, Aml antimoneylaundering

Tags: #nigeriarevenueservice #nrs #cryptocurrency #virtualassets #taxguidelines #taxact #vasps #p2p #digitaleconomy #taxcompliance

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