Important Binance Announcement Concerning Brazilian Users

Key Summary

Binance has announced that from November 1, users in Brazil must provide the purpose of every international crypto transfer and identify the recipient. The exchange will report these operations to Brazil's Central Bank every month. Users must choose from a Central Bank classification system, with simplified lists for transfers up to $50,000 and complete lists for amounts above that. A $100,000 limit applies to non-institutional counterparties, with a possible increase to $500,000. Withdrawals cannot be submitted until the questionnaire is completed, while deposits from abroad may be returned if required information is not provided.