The Brazilian central bank prohibits the use of encrypted assets for settlement in cross-border payments

According to Cointelegraph, the Central Bank of Brazil has issued Resolution 561, prohibiting the use of cryptocurrency or stablecoins for settlement within the regulated framework of international payment and transfer services (eFX). The new regulations require that fund transactions between eFX service providers and overseas counterparties can only be completed through foreign exchange trading or non resident Brazilian real accounts. EFX service providers who have not been approved but are in a transitional period need to apply for authorization to continue operating before May 31, 2027.