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Brazil Central Bank Bars Virtual Assets in Regulated eFX Cross-Border Payments

According to Brazil’s central bank, eFX providers and payment firms will be barred from using cryptocurrencies, including stablecoins and Bitcoin, for overseas remittance settlement from Oct. 1, while individuals may still hold crypto.

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Fact Check
The official Banco Central do Brasil normative registry confirms Resolução BCB n° 561 was issued on April 30, 2026. The Block, which links directly to the official BCB text, confirms the rule amends the eFX framework to exclude virtual assets (cryptocurrencies and stablecoins) from cross-border payment settlement, requiring use of traditional FX transactions or nonresident BRL accounts instead. Crypto.news, SpaceMoney, and TechCripto all independently corroborate the prohibition. The May 31, 2027 transitional authorization deadline is consistent with the broader VASP regulatory timeline described by The Block (nine-month grace period from February 2026). The only minor uncertainty is that the full text of Resolution 561 was not directly readable from the BCB page fetch, so the precise May 31, 2027 deadline wording could not be independently verified from the primary source text itself; however, all secondary sources and the claim's framing are mutually consistent.
Summary

Brazil’s central bank will prohibit eFX providers from using cryptocurrencies, including stablecoins and Bitcoin, to settle overseas remittances starting Oct. 1. The restriction applies to fintechs and payment firms operating in the regulated eFX framework, while individual investors will still be allowed to buy and hold crypto assets. The update also states that unauthorized firms must seek regulatory approval by May 2027, reinforcing that the measure targets supervised cross-border payment settlement rather than imposing a general ban on digital assets.

Terms & Concepts
  • eFX (electronic foreign exchange): Digital foreign exchange services used to process currency conversion and regulated cross-border payments and remittances.
  • Stablecoins: Cryptocurrencies designed to maintain a stable value, typically by being pegged to a fiat currency such as the U.S. dollar.
  • Bitcoin: The largest cryptocurrency by market value, operating on a decentralized blockchain network without central issuer control.