Brazil's central bank bans stablecoin and crypto settlement in cross-border payments
CoinDesk
Brazil’s central bank has prohibited eFX providers from using cryptocurrencies or stablecoins to settle international cross-border payments effective October 2026.Summary
The Central Bank of Brazil (BCB) has issued Resolution No. 561, which bans electronic foreign exchange (eFX) providers from utilizing cryptocurrencies or stablecoins for cross-border remittance settlements. Effective October 1, 2026, the regulation requires that payments between eFX providers and foreign counterparties be settled exclusively through traditional foreign exchange transactions or non-resident real-denominated accounts. This move effectively removes blockchain-based settlement rails for fintechs like Wise, Nomad, and Braza Bank, while emphasizing that individual retail crypto trading remains unaffected and legal under separate existing frameworks.
(Source：CoinDesk)