Brazil’s Central Bank Enacts Ban on Crypto in International Transactions
- Brazil’s Central Bank updated eFX service regulations, prohibiting crypto assets for cross-border settlements.
- Market participants must obtain a license by May 2027 if operating outside the official registry.
- Resolution No. 561 allows financial market investments with a limit of $10,000 per transaction.
- Existing eFX providers have until October 30, 2026, to register their operations with the Central Bank.
- The resolution will take effect on October 1, 2026, requiring compliance from all affected entities.
This regulatory change indicates a significant shift in Brazil’s approach to integrating cryptocurrencies within its financial system while maintaining their legality overall. The updates reflect ongoing global discussions regarding cryptocurrency regulation and its implications for traditional finance.
With the ban on crypto use in international transactions set to begin on October 1, providers must adapt or face operational challenges as they comply with new licensing requirements by May of the following year.
