Brazil Central Bank Bans Crypto Settlement in Cross-Border Payments

Brazil's central bank has banned stablecoin and crypto settlement in cross-border payments for fintechs and payment firms. The ban closes the back-end payment rail for cross-border flows, according to the announcement. Individual crypto investors retain the ability to buy and hold digital assets under the new regulation.
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
AirdropsAfterTheTideRecedesvip
· 05-04 02:18
The payment company's backend was cut off, retail investors on the frontend remain unaffected, and regulators are targeting precisely.
View OriginalReply0
GateUser-4590f4c6vip
· 05-03 23:28
The workaround for cross-border payments through crypto is gone, and compliance costs are about to rise again.
View OriginalReply0
GateUser-ecded933vip
· 05-03 21:14
Is it time for Brazil's CBDC progress bar to move? Banning stablecoins to pave the way for themselves?
View OriginalReply0
HeavyStakingOnASnowyNightvip
· 05-03 20:20
Fintech makes me cry and faint, individual businesses are fine, a typical strategy of cracking down on big ones and letting small ones go.
View OriginalReply0
PfpArchaeologistvip
· 05-03 20:14
The Brazilian Central Bank's move is quite aggressive, directly cutting off the payment company's cross-border channels. Personal holdings haven't been affected, it seems they want to control the flow of funds but not upset retail investors?
View OriginalReply0
PleaseReadTheWhitepaperFirst.vip
· 05-03 19:56
Cross-border stablecoin settlements are banned; is Brazil trying to decouple from USD liquidity?
View OriginalReply0
AirdropOnTheDunevip
· 05-03 19:55
Retail investors survive, B2B suffers, this swordsmanship is impressive
View OriginalReply0
FrenBurnervip
· 05-03 19:55
Individuals can still buy, institutions cannot settle, the dual-track system is understood now
View OriginalReply0