Banco Central do Brasil Bars Crypto Settlement in Regulated eFX Cross-Border Payments From October 1, 2026

Brazil’s central bank, the Banco Central do Brasil, moved to bar regulated cross-border payment channels from settling transactions with crypto assets, tightening oversight of licensed payment infrastructure without imposing a blanket prohibition on cryptocurrency activity in the country.

“Brazil's central bank bans stablecoin and crypto settlement in cross-border payments The ban applies to fintechs and payment firms, closing the back-end payment rail for cross-border flows, but individual crypto investors can still buy and hold assets”

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The restriction is described as focusing specifically on settlement activity within regulated payment rails rather than on crypto ownership, trading, or peer-to-peer transfers, according to Bitget’s account of an official notice from the Banco Central do Brasil.

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Multiple outlets tie the change to Resolution No. 561 and to Brazil’s eFX framework, with Cryptonews.net saying the central bank “barred the use of virtual assets in certain regulated international payment and transfer services.”

In the incrypted report, the central bank “publishedResolution No. 561” on April 30, 2026, and the resolution “includes an explicit ban on using crypto assets for cross-border settlements.”

The incrypted piece adds that the key change is that “All transactions must be conducted exclusively via FX operations or through Brazilian accounts held by nonresidents,” and it stresses that “the restrictions apply only to the eFX system.”

Cryptonews.net similarly frames the rule as closing off crypto and stablecoins “inside the regulated eFX channel,” while The Crypto Times says the policy “forbids ‘virtual assets’ as the settlement tool within the supervised eFX mechanism.”

The effect is scheduled for a specific date: incrypted says the resolution “will take effect on October 1, 2026,” while Crypto Briefing also states the ban is “effective October 1, 2026.”

Under the new eFX rules, payments or receipts between an eFX provider and its foreign counterparty must be carried out through foreign exchange transactions or through non-resident Brazilian real accounts, and the use of virtual assets is prohibited.

Cryptonews.net reports that the resolution “states that payments or receipts between an eFX provider and its foreign counterparty must be carried out exclusively through a foreign exchange transaction or movement in a non-resident Brazilian real account, with the use of virtual assets prohibited.”

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The incrypted account describes the same operational requirement as “All transactions must be conducted exclusively via FX operations or through Brazilian accounts held by nonresidents.”

CoinCentral likewise quotes the resolution’s language, saying the document stresses that these transactions must be carried out “exclusively: I – through a foreign exchange transaction or movement in a non-resident’s Brazilian real account held in Brazil, with the use of virtual assets being prohibited.”

The rule is not presented as a total shutdown of crypto activity in Brazil, and multiple outlets emphasize that it is limited to settlement inside regulated rails.

The Crypto Times says “it is not a blanket ban on cryptocurrencies across Brazil,” while CoinCentral states “this did not bring the regulated system down” and frames the change as “barricaded blockchain networks from becoming parallel transfer value channels.”

Cryptonews.net also says “The rule does not amount to a blanket ban on crypto transfers in Brazil,” and it adds that “it closes off the use of crypto and stablecoins inside the regulated eFX channel.”

Even so, the restriction directly affects how regulated providers can settle international transfers, because it “removes virtual assets from settlement inside supervised eFX channels,” as CoinCentral puts it.

The incrypted report also notes that the resolution expands permitted operations within eFX, saying “eFX can now be used for transfers related to investments in the financial market,” but it attaches a limit: “subject to a limit of up to $10,000 per transaction.”

The central bank’s resolution is tied to a concrete publication and implementation timeline, and it includes transition mechanics for providers that are not yet listed among approved categories.

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Incrypted says the central bank “publishedResolution No. 561” on April 30, 2026, and it states that the resolution “will take effect on October 1, 2026.”

Cryptonews.net adds that the restriction “also applies under transitional rules for eFX providers that are not yet listed among approved provider categories,” and it says those firms “may continue providing eFX only if they apply for authorization from the central bank by May 31, 2027.”

Incrypted similarly describes a transition period, stating “by October 30, 2026, they must register the relevant activity in the Unicad system (BCB’s register).”

It further says that “Those operating without an official license must apply for payment institution status by May 31, 2027 — otherwise, they will have to cease operations within 30 days after the deadline.”

The resolution also imposes ongoing reporting and recordkeeping obligations, with incrypted stating that “Providers must retain all transaction data for 10 years and submit monthly reports to the regulator by the 10th day of the following month.”

Cryptonews.net says “The restriction also applies under transitional rules,” and it reiterates that even during the transition, “their payments and receipts must still use foreign exchange transactions or non-resident real accounts, not virtual assets.”

The Crypto Times likewise frames the change as directing international transactions “while continuing other crypto-related activities,” and it states that “it is possible for individuals and businesses to trade, exchange, store, and move Bitcoin, stablecoins, and other digital currencies on exchanges and P2P platforms; however, it is prohibited to settle such flows using the same.”

The sources connect Brazil’s move to concerns about money laundering, tax evasion, and monetary sovereignty, while also describing the policy as a targeted effort to keep crypto out of supervised settlement.

Crypto Briefing says the resolution “aims to curb the use of virtual assets in regulated foreign exchange transactions” and that the restriction responds to concerns about “money laundering, tax evasion, and monetary sovereignty.”

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Cryptonews.net similarly links the central bank’s push to “concern over the use of stablecoins for payments and cross-border transfers,” and it says the central bank’s earlier work included “new rules for virtual asset service providers, including authorization requirements and rules for services involving virtual assets in the foreign-exchange market.”

It also cites Reuters reporting that BCB Governor Gabriel Galipolo said crypto use had surged and that “about 90% of flows linked to stablecoins,” with concerns about “taxation, money laundering and asset backing.”

The incrypted report frames the resolution as an “explicit ban on using crypto assets for cross-border settlements” within eFX and notes that “There is no outright ban on crypto assets in the country,” which aligns with the idea that regulators are focusing on oversight rather than banning ownership.

CoinCentral adds that the bank clarified the regulations were approved to “improve security, transparency, and greater alignment of Brazil with global standards for preventing financial crimes,” and it places the change in the context of a public consultation held in 2025.

The Bitget account describes the settlement layer as “one of the most sensitive control points in any country’s financial system,” saying that when settlement occurs in crypto assets regulators may lose the ability to “track, freeze, or reverse transactions.”

It also says the measure is designed to keep regulated payment infrastructure separated from “volatility and operational risks associated with crypto asset settlement.”

The rule is already being interpreted through both market signals and industry commentary, with some sources emphasizing potential impacts on stablecoin usage in cross-border remittances and others focusing on compliance and settlement efficiency.

“The Central Bank of Brazil published Resolution No”

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Crypto Briefing says “Market pricing suggests that the ban could negatively influence Bitcoin demand in Brazil,” while also stating that “current market pricing remains supportive of Bitcoin maintaining its price above $68,000 on May 1 and May 2.”

Bitcoin News

It also claims that “stablecoin usage” is significant, saying it “constituting 90% of reported cross-border crypto remittances.”

Cryptonews.net and CoinCentral both describe the operational burden on providers, with CoinCentral quoting economist Victor Alfa warning that “Innovation in the settlement layer suffers a severe blow. Companies in the sector will be forced to abandon on-chain efficiency and return to the conventional—and often more costly—rails of traditional banking infrastructure.”

The grafa report similarly attributes a warning to “economist Victor Alfa,” stating that “Innovation in the settlement layer suffers a severe blow” and that firms would be forced to “abandon on-chain efficiency.”

Intellectia AI frames the compliance impact as “immediate operational burden on compliance teams tasked with auditing and rebuilding settlement workflows,” and it says the policy “potentially increasing operational costs.”

Bitget’s account focuses on institutional adjustments, saying compliance teams at affected institutions will need to “audit existing settlement flows and confirm that no crypto assets are used in the final settlement step of regulated cross-border transactions.”

Looking ahead, the sources point to what firms must do before the October 1, 2026 start date and the May 31, 2027 authorization deadline for certain providers, while also highlighting that the rule does not eliminate crypto trading or P2P transfers.

Incrypted underscores that “The resolution will take effect on October 1, 2026,” and it lists ongoing obligations like monthly reporting “by the 10th day of the following month,” which sets a compliance cadence for the post-implementation period.