Brazil bars crypto settlement in regulated cross-border payment rails
Brazil's central bank banned virtual assets from its regulated eFX cross-border payment rails, requiring settlements exclusively through foreign exchange transactions or non-resident real accounts. The move tightens crypto oversight as stablecoins surge, with 90% of crypto flows linked to them. The restriction doesn't outright ban crypto transfers but channels cross-border payments through supervised forex channels, addressing concerns over money laundering and monetary sovereignty.
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