Brazil's central bank bans stablecoin and crypto settlement in cross-border payments
Brazil's central bank bans stablecoins and cryptocurrencies for settling cross-border payments, though individual investors can still trade.Summary
Brazil's central bank has banned electronic foreign exchange (eFX) providers from using stablecoins, bitcoin, or other cryptocurrencies to settle overseas remittances. The new rule, BCB Resolution No. 561, takes effect October 1, 2026, and requires payments between eFX providers and foreign counterparts to move through a foreign exchange transaction or a non-resident real-denominated account. The regulation targets companies like Wise, Nomad, and Braza Bank that had integrated stablecoin settlement into cross-border flows. However, the ban does not affect individual crypto investors, who can still buy, sell, hold, and transfer cryptocurrency through authorized virtual asset service providers. The resolution also restricts eFX to BCB-authorized institutions and expands the system's capabilities to handle transfers tied to financial and capital market investments.
(Source：Coindesk Indonesia)