The Central Bank of Brazil established new rules for the international payments and transfers service known as eFX. The institution issued BCB Resolution No. 561 through which it prohibits the use of bitcoin (BTC), and any other digital asset, including stablecoins and other cryptocurrencies, in the settlement of these operations.
This resolution modifies the previous regulations and establishes that payment or receipt between eFX service providers and their counterparts abroad must be made exclusively through exchange operation traditional or non-resident real account movement.
The eFX service, which allows citizens and companies to make digital transfers abroad with limits of up to USD 10,000, Until now, it was an area where the use of digital assets promised greater agility. However, the new regulations expressly veto the use of bitcoin and stablecoins in this process, closing any settlement channel that operates outside the conventional exchange system.
The measure occurs just one day after the monetary authority increased pressure on the National Congress to prohibit or severely restrict stablecoins issued by foreign companies, such as Tether (USDT) and Circle (USDC), as reported by CriptoNoticias. According to the regulator, these assets represent a direct threat to the monetary sovereignty and the effectiveness of the country’s economic policy.
In the end, the Central Bank’s resolution highlights a growing tension in the region such as the fight for monetary sovereignty in the digital age. For the regulator, it is about closing legal gaps and protecting the Real; For the citizen, it means the loss of a tool that offered agility in the face of banking bureaucracy.
With a transition period that extends until 2027, Brazil begins a stress test to determine if institutional control can coexist with a financial ecosystem that, by nature, seeks to cross borders without asking permission.