Binance just dropped the tea on their Brazilian users saying from November 1 every crypto move in or out the country needs a full purpose declared plus details on the other side lol. Theyll report the whole thing to the Central Bank every month now 🦇💀
Binance Drops Demands on Those Spicy Global Transfers 😈
The update pulls international crypto transfers right into Brazils foreign exchange rules and nothing slides through without those answers fr. 🌙 Users sending or receiving crypto outside Brazil gotta explain the reason and name the counterparty while corporate accounts spill if its the same economic group.
This aint the Travel Rule tho since that hits separately in 2027 and 2028. Transfers count as international if the other party sits outside Brazil or if youre shifting your own assets between local and overseas spots. Local Brazilian swaps stay untouched 💸
Users pick a purpose from the Central Banks list with transfers up to 50000 dollars using a quick 10 option menu while bigger ones need the full 96 choices. No generic others option for those larger ones either 👀
Key Prep Brazilians Need Before November 🖤
The real hit comes when moving assets between Binance and foreign accounts since withdrawals wont process till the form fills out and deposits might hang or bounce back without the info. Self hosted wallets skip the purpose part but need ownership confirmation with everything still reported in its own category 🔮
The details must match the actual reason each time and support is there for any slip ups while only approved foreign exchanges show in the list. Meanwhile the exchange juggles other regulatory tweaks like questions from European regulators over operations post MiCA stuff 🕸️
For Brazilian customers tho the focus stays narrow with every international deposit and withdrawal demanding the new data once it kicks in.
Just another echo from the void by iconofsin.eth 💖
