Brazil Central Bank Bans Crypto in Cross-Border Payments

Brazil's central bank has banned stablecoins and cryptocurrency settlement in cross-border payments, according to the announcement. The ban applies to fintechs and payment firms, effectively closing the back-end payment rail for cross-border crypto flows. However, individual crypto investors retain the ability to buy and hold digital assets under the new restrictions.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
GateUser-7df43e29vip
· 05-05 00:22
It's about anti-money laundering, but in reality, they just don't want you to bypass SWIFT. Same old script.
View OriginalReply0
L2LunchBoyvip
· 05-04 13:56
Neighboring Latin American countries are all embracing it, Brazil is doing the opposite, this is very much a central bank 😅
View OriginalReply0
NightFlightMintvip
· 05-03 09:05
The backend payment track of fintech has been cut off, cross-border business is difficult, so we're observing for now.
View OriginalReply0
FrictionlessFredvip
· 05-03 06:56
It's the same old rhetoric about protecting traditional banks, clearly showing who crypto payments are threatening.
View OriginalReply0
NeonMintvip
· 05-03 06:52
Short-term negative news, but in the long run, it may force the emergence of compliant local stablecoins, so there is still a chance.
View OriginalReply0
GateUser-e4fb1fbevip
· 05-03 06:49
Individual investors are temporarily safe, but once the payment channel is cut off, liquidity will eventually be affected; those who understand, understand.
View OriginalReply0
GateUser-2eca626fvip
· 05-03 06:49
The Brazilian Central Bank's recent move really left me confused. They said they would cut cross-border stablecoin settlements, and then just did it. Fintechs are completely stunned.
View OriginalReply0