Banco Central do Brasil published Resolution 561 on April 30, 2026. The resolution bars authorized electronic foreign exchange providers from settling the offshore leg of cross-border payments using stablecoins or crypto assets. The prohibition takes effect October 1, 2026. Under the new rules, payments between eFX providers and foreign counterparties must use foreign exchange transactions or non-resident BRL accounts.
The resolution addresses companies that had incorporated stablecoin settlement into their cross-border payment flows. Brazil's crypto market processes an estimated USD 6 to 8 billion per month. Stablecoins represent approximately 90 percent of that volume. Individual investors retain the ability to buy, hold, and transfer crypto assets through virtual asset service providers under separate Resolution BCB No. 521.
Authorized eFX firms must update their Unicad system registrations by October 30, 2026. Unauthorized firms currently offering cross-border services have until May 31, 2027 to apply for BCB authorization or cease operations. The practical effect redirects institutional cross-border settlement onto traditional FX rails cleared through STR, reinforcing central bank money as the settlement medium for regulated international flows.