🚫 Brazil Prohibits Cryptocurrency Transactions in Regulated Cross-Border Payment System
📈 The Central Bank of Brazil has prohibited service providers in the regulated electronic foreign exchange operations (eFX) channel from using cryptocurrencies for transactions. The eFX system covers international payments and transfers.
‼️ According to the new regulation, transactions between an eFX provider and its foreign counterpart must be conducted solely in foreign fiat currency or through funds movement in Brazilian reais for non-resident accounts. This restriction also applies to eFX providers not yet listed among the approved categories.
🔒 However, the document does not imply a complete ban on cryptocurrency transfers in Brazil. It limits the use of digital assets and stablecoins within the eFX framework, reinforcing the central bank's efforts to control cross-border payment flows.
📈 Brazil is taking steps to integrate digital assets into its financial and currency regulations as stablecoins gain a larger market share. In November 2025, the Central Bank published new requirements for supervised organizations, including authorization criteria and restrictions on cryptocurrency-related services.