TLDR Tech / Crypto
Brazil's Central Bank Bans Stablecoin-Backed FX Flows Inside eFX Rail
Brazil's central bank published Resolution No. 561 on April 30, effectively making it illegal for fintechs and neobanks to quietly convert reais to USDT on the backend and settle payments via blockchain within the eFX rail (the exact flow that many were using for cheaper, faster cross-border settlement without correspondent banks). The ban takes effect on October 1 and doesn't outlaw crypto broadly, but specifically targets the use of stablecoins as invisible backend plumbing inside regulated payment corridors. It's a significant regulatory move in Latin America's largest economy and will force stablecoin-native payment companies to either restructure their flows or operate outside the eFX system.
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