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Brazil Tells Crypto Exchanges to Delay Overseas Transfers
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PYMNTS.com
Brazil’s new fraud-prevention rules require cryptocurrency exchanges to delay some overseas transfers by 24 hours.
The hold applies to transfers exceeding $10,000, whether that means a sole transaction or multiple transfers in one day.
The hold is temporary, with exchanges able to release a transfer before 24 hours if they find no signs of wrongdoing, the report added.
In the end, that report added, crypto fraud isn’t just about code but about psychology — FOMO (fear of missing out), trust and greed.
“The crypto world is not done evolving, and neither are the scams,” PYMNTS added.