Brazil's Central Bank Prohibits Stablecoin and Crypto Transactions for Cross-Border Payments
The Central Bank of Brazil has introduced a ban on the use of stablecoins and other cryptocurrencies for settling international remittances by electronic foreign exchange providers.
The new regulation, outlined in BCB Resolution No. 561, published on April 30, updates the rules governing digital international payments, purchases, and transfers in Brazil, with the changes set to take effect on O…