Brazil Central Bank Blocks Stablecoins in eFX Settlement from October 1

Brazil's Central Bank has blocked the use of stablecoins and other virtual assets in the international settlement process for regulated cross-border payment services starting October 1. The central bank announced Resolution No. 561 on April 30, limiting payments and receipts between electronic foreign exchange (eFX) providers and overseas counterparties to foreign exchange transactions or movements via non-resident BRL accounts.

CryptoSlayte reported that this measure does not prohibit all international remittances by individuals but applies specifically to the settlement phase of regulated eFX routes. The regulation targets a specific international payment channel rather than stablecoin trading in general.