Brazilian Central Bank bans regulated eFX cross-border payment channels from settling with virtual assets

Gold Financial reports that on May 1st, the Central Bank of Brazil issued Resolution No. 561, banning the use of virtual assets for settlement in regulated electronic foreign exchange (eFX) international payment and transfer services.
The new regulation requires that payments or receipts between eFX service providers and foreign trading partners must be completed through foreign exchange transactions or non-resident Brazilian real accounts.
This restriction also applies to eFX service providers that have not yet been approved but are in the transition period.
The rule does not completely prohibit cryptocurrency transfers in Brazil but excludes virtual assets and stablecoins from regulated eFX channels.

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