Brazil's Central Bank Tightens Controls on Cross-Border Crypto Payments

Brazil's central bank has taken steps to tighten the perimeter around its formal remittance infrastructure by introducing a foreign-exchange rule that prohibits regulated cross-border payment channels from using crypto assets to settle international transfers.

The new rule, formalized in Resolution BCB No. 521, aims to ensure that all payments and receipts in the regulated cross-border system are settled either via classic FX trades or non-resident real accounts.

This move is designed to prevent tax evasion, money laundering, and undermine monetary sovereignty by keeping virtual assets separate from core payment systems and foreign-exchange channels.