# Brazil's central bank has banned electronic foreign exchange (eFX) providers from using stablecoins, bitcoin or other cryptocurrencies to settle overseas remittances.

*fintech · news · 2026-05-02 · CoinDesk*

## Key points

- Brazil's central bank has barred eFX providers from using stablecoins or cryptocurrencies for remittance settlements.
- Resolution No. 561 closes the use of crypto as a back-end rail for regulated eFX firms.
- Nomad and Braza Bank's stablecoin-based cross-border flows are directly impacted by the new regulation.
- eFX services are now limited to BCB-authorized entities, with a deadline to apply by May 31, 2027.
- Providers can handle capital market-related transfers up to $10,000 per transaction under the new rules.

**Companies:** Wise, Nomad, Braza Bank
**Countries:** Brazil

[Read the full story on CoinDesk](https://www.coindesk.com/policy/2026/05/02/brazil-s-central-bank-bans-stablecoin-and-crypto-settlement-in-cross-border-payments)

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