Brazil's Central Bank (BCB) has issued Resolution No. 561, prohibiting the use of virtual assets for settlement in regulated eFX international payment and transfer services. According to Odaily, the resolution mandates that payments between eFX service providers and their foreign counterparts must be conducted exclusively through foreign exchange transactions or non-resident Brazilian real accounts, strictly forbidding the use of virtual assets.
This regulation also applies to eFX providers in the transition phase who have not yet been approved. These companies must seek authorization from the central bank by May 31, 2027, to continue offering services. The measure does not constitute a complete ban on crypto asset transfers within Brazil but aims to confine cross-border payment flows to regulated foreign exchange channels.
The Brazilian Central Bank stated that the decision was prompted by the surge in stablecoin usage in cross-border payments, raising concerns about money laundering, taxation, and monetary sovereignty.
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