Brazil bars crypto settlement in regulated cross-border payment rails

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English translated excerpt of the BCB Resolution No. 561. Source: BCB Brazil has been moving to fold virtual assets into its financial and foreign exchange rulebook as stablecoins become a larger part of the country’s crypto activity. In November 2025, the central bank detailed new rules for virtual asset service providers, including authorization requirements and rules for services involving virtual assets in the foreign-exchange market. The central bank’s push follows concern over the use of stablecoins for payments and cross-border transfers. In February, Reuters reported that BCB Governor Gabriel Galipolo said that crypto use had surged in the country over the previous two to three years, with about 90% of flows linked to stablecoins. He said that raised concerns around taxation, money laundering and asset backing. Related: Spain emerges as leading EURC retail market in Europe, Brighty data shows The eFX rule comes as Brazil’s central bank has also signaled concern over stablecoins issued by companies outside its regulatory perimeter. In a technical note sent to Congress and seen by Cointelegraph Brasil, the central bank said stablecoins issued by entities not subject to BCB supervision could face a ban or strict conditions in the domestic market. The document said real-denominated stablecoins issued outside BCB supervision may pose risks to regulatory equality and monetary sovereignty, while foreign-currency stablecoins raise concerns around jurisdiction, capital flows and fragmentation of the payments system. Magazine: AI-driven hacks could kill DeFi — unless projects act now

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