The requirement by Brazil’s central bank goes into effect Jan. 1, according to a resolution published Friday (Aug. 7) and flagged in a report by CoinDesk.

According to the report, the rules cover deposits made in Brazilian reais, or crypto with an exchange, that a user wants to send abroad or to a wallet they control.

The hold applies to transfers exceeding $10,000, whether that means a sole transaction or multiple transfers in one day. Smaller transfers that exchanges consider risky could also be delayed.

The move is in response to criminals using cryptocurrencies such as stablecoins to move money obtained via fraud before it can be recovered.

The hold is temporary, with exchanges able to release a transfer before 24 hours if they find no signs of wrongdoing, the report added. Exchanges must document that decision and inform customers when a transaction has been placed on hold.

The measure also places more responsibility on exchanges to determine risk based on the customer, transaction, counterparty and destination jurisdiction.

The CoinDesk report cited comments from Regina Pedroso, president of Brazilian tokenization group Abtoken to local news outlet Portal do Bitcoin, saying the policy could place costs on legitimate crypto users and make domestic exchanges less competitive.

Writing about the 15-year history of crypto fraud last month, PYMNTS observed that the evolution of these scams — “from opportunistic hacks to well-organized state-backed deception” — can give enterprises, regulators and financial institutions insight into “the systemic risks lurking beneath crypto’s promise of financial services innovation.”

In the end, that report added, crypto fraud isn’t just about code but about psychology — FOMO (fear of missing out), trust and greed. Many scams succeed because they look legitimate, meaning that employee training on wallet hygiene, phishing and impersonation is as critical in fraud prevention as any firewall.

“The crypto world is not done evolving, and neither are the scams,” PYMNTS added. “But businesses that internalize the lessons of this 15-year arc — from governance and transparency to consumer psychology and ethical design — may be best equipped to navigate the next frontier of digital innovation.”

Intra-Day Price Volatility and Resistance

On Wednesday, bitcoin stubbornly anchored itself above the $64,000 baseline, though broader bullish momentum remained muted as political friction intensified around the impending CLARITY Act vote. Despite a sharp spike in 24-hour volatility, market data indicate the top cryptocurrency still managed to carve out a slight upward trajectory compared to its Aug. 4 consolidation range of $63,000 to $63,600.

Market data show that although it dipped below $64,000 several times during the session, it quickly reclaimed the mark, signaling strong buying pressure. Still, a familiar ceiling emerged: Each rally stalled once bitcoin breached $64,400.

That pattern held until 8:30 a.m. EST, when the price fell from $64,466 to a daily low of $63,900 in just over an hour. A sharp rebound erased the drop and pushed bitcoin to a peak of $64,706. As of 12:53 p.m. EST, bitcoin traded just under $64,600—a 1.1% daily gain that nudged its market capitalization close to $1.3 trillion.

For the second straight day, even modest gains proved brutal for short sellers. Coinglass data show that of the nearly $52 million in leveraged bitcoin positions, short liquidations accounted for $45 million. Across the broader crypto market, liquidations hit roughly $216 million, with short positions making up $148 million of the total.

Analysts view the CLARITY Act as a key catalyst for bitcoin this year, but with less than 48 hours before Congress enters recess, passage by a divided U.S. Senate appears increasingly unlikely. Reports late Tuesday indicated Senate Majority Leader John Thune planned to file cloture, though later reports noted Senate Democrats intend to block the move. Ultimately, the Senate’s Aug. 5 schedule omitted the CLARITY Act entirely, highlighting a lack of bipartisan consensus.

Nevertheless, staunch advocates refuse to declare the push dead. Coinbase Vice Chairman Ryan VanGrack underscored that a failure in the current legislative session does not kill the bill, pointing to September as a viable secondary runway for passage. Echoing that resilience, Sen. Cynthia Lummis, one of the measure’s chief legislative architects, maintained a bullish outlook on its ultimate trajectory—though she conceded that high-stakes negotiations will likely drag through the weekend.

Prediction markets are far less hopeful. Polymarket users now give the CLARITY Act just a 15% chance of becoming law this year, down 12 percentage points from 27% on Monday.

Bitcoin Reclaims $65,000 Despite CLARITY Act Setback

The first week of August delivered strong momentum across the cryptocurrency market, with aggregate market capitalization surging from a low under $2.2 trillion to reach $2.9 trillion by Aug. 8. Bitcoin spearheaded the rally, reclaiming the $65,000 threshold for the first time in August and lifting its total market cap back past $1.3 trillion.

Market data shows bitcoin gained over 3% over seven days, ascending from $62,721 to a peak just above $65,300 on Friday before consolidating above key support. Crucially, bitcoin secured these gains despite regulatory headwinds following the U.S. Senate’s failure to pass the CLARITY Act.

While bitcoin anchored the broader market, Cardano (ADA) emerged as the week’s standout performer, logging double-digit gains for the second consecutive week. ADA rallied from $0.174 to hit $0.211 on Aug. 6—a high not seen since June 4—fueled by news of a strategic integration between Cardano and the Injective protocol. Despite this short-term breakout, ADA remains down nearly 30% over a 90-day horizon.

Privacy-focused assets also caught a bid, with ZEC and XMR jumping 8% and 7%, respectively. Large-cap altcoins mirrored the positive sentiment: BNB rose 5% to reclaim the psychological $600 level, matched by gains in SOL and HYPE. Gold-backed tokens PAXG and XAUT advanced over 7% in tandem with spot gold, which rallied from $4,233 per ounce to a Friday high of $4,364.

Conversely, select major altcoins lagged behind the broader market expansion. XRP slid below $1.02 on Aug. 7, finishing down 1.5% and standing as the sole top-10 digital asset to post weekly losses. Stellar (XLM) also retreated 3.3%, while steeper corrections hit CC (-20%), (CRO (-9%), SHIB (-8.8%), and ONDO (-8%).

Looking ahead, confirmation that the CLARITY Act vote has been delayed removes a major macroeconomic catalyst that market participants had counted on to spark a sustained bitcoin rally in the second half of 2026. With federal legislative momentum temporarily stalled, short-term price action will likely be driven by sector-specific narratives and native crypto catalysts, at least until Sept. 15, when the Senate is expected to bring the bill back to the floor.

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