Brazil's Central Bank Blocks Crypto in Cross-Border Payments, Sets May 31 2027 Deadline

According to Banco Central do Brasil (BCB), on April 30 the central bank published Resolution BCB No. 561, barring virtual assets from settlement in the country's regulated eFX framework for cross-border digital payments. The rule requires eFX providers to use traditional foreign exchange operations or non-resident real accounts instead of crypto for settlements with foreign counterparties. Companies without central bank authorization may continue operating temporarily if they apply by May 31, 2027, while authorized institutions must update their registration by October 30, 2026.

Brazil tracked 227 billion reais in crypto transactions during the first half of 2025, with USDT comprising roughly two-thirds of volume and Bitcoin representing 11%. The restriction does not ban crypto trading but closes a stablecoin settlement route previously used by remittance providers.