Brazil's central bank will bar virtual assets, including stablecoins, from settling one specific type of international payment flow starting Oct. 1, under a new rule known as Resolution 561.
The resolution targets the settlement leg between regulated foreign-exchange (FX) providers and their overseas counterparties, requiring that leg to run through a licensed FX transaction or a qualifying non-resident real account. Individual international transfers using virtual assets remain permitted under Brazil's existing framework.
What Changes and What Doesn't
- eFX providers netting and consolidating multiple international payments: still allowed — the core eFX aggregation model remains intact.
- Settlement between an eFX provider and its foreign counterparty: virtual assets, including stablecoins, will no longer be permitted for this specific leg starting Oct. 1.
The measure applies narrowly to the settlement segment between regulated FX providers and their overseas counterparties, rather than to individual cross-border transfers made by users with virtual assets.
