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Brazil Central Bank Bans Crypto Use in Cross-Border Payments Under Resolution BCB No. 561, Effective October 1

GateNews
Regulation & PolicyGeopolitics
According to Resolution BCB No. 561 announced on May 1, Brazil's central bank has banned the use of crypto assets, including stablecoins, in cross-border payments. All international transfers must now be conducted through regulated foreign exchange operations or authorized non-resident real-denominated accounts. Service providers not yet formally authorized have until May 31, 2027 to submit applications, and must comply with the same restrictions during the interim period. The regulation does not prohibit domestic cryptocurrency holdings or transfers. Enhanced compliance obligations, including stricter reporting requirements, transaction limits, and ten-year data retention, take effect on October 1, 2026.
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