Brazil has introduced new rules that restrict how cryptocurrencies can be used in regulated international payments. The move, announced by the Banco Central do Brasil, does not ban crypto but limits its role within supervised payment infrastructure.
The changes are outlined in 第561号决议, which updates Brazil’s electronic foreign exchange system, known as eFX. This system governs how licensed institutions such as banks, fintech firms, and remittance providers handle cross-border transactions under central bank supervision.
在新规则下， regulated payment providers cannot use cryptocurrencies or stablecoins as a settlement method for international transfers through the eFX system. These transactions must be completed using traditional foreign exchange operations or accounts denominated in Brazilian reais held by non-residents.
In practice, this means a provider cannot convert local currency into assets like Bitcoin or dollar-pegged stablecoins to complete the final stage of a cross-border transfer. Even if crypto is used earlier in the process, the settlement must go through traditional financial channels.
The restriction applies only to regulated payment systems. Individuals and businesses can still buy, sell, and hold crypto assets, and peer-to-peer transactions outside the formal financial system are unaffected.
The central bank’s focus is on settlement, the stage where funds are transferred between institutions and ownership is finalized. This is where regulators enforce anti-money laundering checks, monitor capital flows, and apply foreign exchange controls. Using cryptocurrencies at this stage reduces visibility for authorities. Brazil is aiming to maintain oversight of international financial flows while allowing broader crypto activity to continue outside regulated channels.
The rules mainly affect licensed institutions involved in cross-border payments. This includes banks offering international transfers, fintech companies handling remittances, and payment platforms operating within the eFX system.
Some of these firms had been using crypto-based settlement, especially stablecoins, because of faster processing times and lower costs compared to traditional banking systems. With the new restrictions, they will need to return to conventional currency rails, which may increase costs and processing times.
Companies will also need to review internal systems to ensure crypto is not used at any point in regulated settlement processes. This may require technical adjustments for firms that integrated blockchain-based tools.
The decision also reflects growing regulatory attention on stablecoins. Crypto transactions in Brazil reached about 227 billion reais, around $42.8 billion, in the first half of 2025, with stablecoins accounting for a large share of that volume.
由于大多数 stablecoins are issued by companies outside Brazil, regulators have limited control over their use in cross-border payments. This raises concerns around transparency, compliance, and monetary control.
通过将稳定币排除在受监管的结算系统之外，中央银行正在将受监管的金融基础设施与去中心化的数字资产网络分开。
The measure does not amount to a ban on cryptocurrency. Exchanges remain operational, and individuals can continue to use crypto under existing regulations. The restriction applies specifically to licensed institutions within the central bank’s payment framework.
This approach reflects a broader regulatory direction. Instead of banning crypto, authorities are focusing on how it connects with the traditional financial system.
The new rule is part of wider efforts to increase oversight of the crypto sector. Recent measures include stronger anti-money laundering requirements, consumer protection rules, and reporting obligations for virtual asset service providers.
Companies operating without full authorization can continue temporarily but must apply for approval by May 2027. Licensed providers must update their registration details by late 2026.
