Brazil's central bank moved last week to cut crypto out of the country's regulated cross-border payment system, publishing a resolution that bars licensed electronic foreign exchange firms from settling overseas remittances in cryptocurrencies or stablecoins. The rule, published April 30 as BCB Resolution No. 561, takes effect October 1, 2026 - giving affected companies five months to rebuild their settlement infrastructure around traditional FX rails.
What the Rule Actually Does
The mechanics are straightforward. Under the new rules, eFX-licensed firms cannot take reais (Brazilian currency) from a Brazilian customer, convert those funds into USDT, USDC or bitcoin, and settle the payment abroad on-chain. Instead, all remittances through supervised eFX channels must move via a traditional foreign exchange transaction or through a nonresident real-denominated account in Brazil. The blockchain bypass is closed - at least for entities operating ins...
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