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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Reuters: Nobitex Founded by Elite Iranian Political Family, Handles 70% of Nation's Crypto Activity
According to a Reuters investigation published Friday, Nobitex, Iran's dominant crypto exchange with roughly 11 million users, was founded by brothers Ali and Mohammad Kharrazi, members of a family with close ties to Iran's supreme leaders. The brothers registered the company in 2018 under an altern
GateNews7h ago
Brazil Central Bank Bans Crypto in Cross-Border Payments
Brazil's central bank has banned stablecoins and cryptocurrency settlement in cross-border payments, according to the announcement. The ban applies to fintechs and payment firms, effectively closing the back-end payment rail for cross-border crypto flows. However, individual crypto investors
CryptoFrontier8h ago
Bitcoin Reclaims $79,000 as Brent Oil Holds Above $108 Amid Geopolitical Tensions
Bitcoin reclaimed the $79,000 level on May 3 as traders balanced improving crypto market structure against elevated Brent crude prices and geopolitical uncertainty. BTC pushed above $79,000 but faced rejection near the $80,000 resistance zone. Brent crude held around $108.17 per barrel after a volat
GateNews8h ago
Nobitex, Iran's Dominant Crypto Exchange, Founded by Elite Political Family Connected to Supreme Leaders
According to a Reuters investigation published Friday, Nobitex, Iran's dominant crypto exchange, was founded by brothers Ali and Mohammad Kharrazi from an elite political family connected by marriage to all three supreme leaders of the Islamic Republic. The exchange claims roughly 11 million users a
GateNews14h ago
