Brazil’s central bank has banned stablecoins and cryptocurrencies from being used for settlement in cross-border payments, according to the announcement.

Scope of the Ban

The restriction applies specifically to fintechs and payment firms, effectively closing the back-end payment rail for cross-border cryptocurrency flows. However, the ban does not restrict individual crypto investors from buying and holding digital assets.

Individual Investor Exception

While institutional and commercial use of crypto for cross-border settlement is prohibited, retail investors retain the ability to purchase and hold cryptocurrencies outside the regulated payment system.

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Comment

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SushiRebalance

· 1h ago

The Brazilian Central Bank's move is quite aggressive, directly cutting off the fintech's backup plans, and the cross-border payment sector is about to be reshuffled.

View OriginalReply0

TheWindOnTheBridgeIsTooStrong.

· 2h ago

Are stablecoin settlements banned, benefiting traditional banks? Or does it push local CBDCs to accelerate? Waiting for the follow-up.

View OriginalReply0