Brazil’s central bank will bar stablecoins from settling one specific type of international payment flow starting October 1. Resolution 561 targets the settlement leg between licensed FX providers and overseas counterparties, requiring it to run through a licensed FX transaction or a qualifying non-resident real account. Individual international transfers using virtual assets remain permitted under the existing framework. Brazil’s tax authority recorded R$1.13 trillion in declared stablecoin transactions between August 2019 and December 2025, representing roughly 72% of all declared crypto activity. The measure is framed as an attempt to keep flows inside channels the central bank can already see and control, short of a general stablecoin ban.
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