According to Coindesk, Brazil’s central bank banned electronic foreign exchange (eFX) service providers from using stablecoins and cryptocurrencies such as Bitcoin for cross-border remittance settlements starting October 1. The ban applies to fintech and payment companies, cutting off backend payment channels for international fund transfers. However, individual crypto investors may continue to purchase and hold digital assets. Cross-border payments must now use traditional forex trading or non-resident real accounts.
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
A16z Backs CFTC, Calls State-Level Prediction Market Rules a 'Barrier to Impartial Access'
According to The Block, venture capital firm Andreessen Horowitz submitted an 18-page comment letter to the Commodity Futures Trading Commission on Friday, supporting federal oversight of prediction markets and opposing state-level crackdowns. A16z argued that cease-and-desist letters and proposed b
GateNews8h ago
Senators Warren, Wyden Question Lutnick Over Tether Loan to Children's Trust
Senators Elizabeth Warren (D-MA) and Ron Wyden (D-OR) have written to Commerce Secretary Howard Lutnick and Tether CEO Paolo Ardoino requesting information about loans made by the stablecoin firm to a trust
CryptoFrontier10h ago
A16z Backs CFTC on Prediction Markets, Cites $150B Polymarket-Kalshi Volumes
According to The Block, Andreessen Horowitz submitted an 18-page comment letter to the Commodity Futures Trading Commission on Friday, supporting federal oversight of prediction markets and opposing state-level crackdowns. A16z argued that cease-and-desist letters and proposed bans by state regulato
GateNews13h ago
