Brazil blocks stablecoins from key cross-border payment rail as $1.1 trillion market faces new limits
Brazil's central bank will bar virtual assets, including stablecoins, from settling one specific type of international payment flow starting Oct. 1. Resolution 561 targets the settlement leg between regulated foreign-exchange providers and their overseas counterparties, requiring that leg to run through a licensed FX transaction or a qualifying non-resident real account. Individual international transfers using […] The post Brazil blocks stablecoins from key cross-border payment rail as $1.1 trillion market faces new limits appeared first on CryptoSlate.
Key Takeaways
- Brazil's central bank will bar virtual assets, including stablecoins, from settling one specific type of international payment flow starting Oct.
- Resolution 561 targets the settlement leg between regulated foreign-exchange providers and their overseas counterparties, requiring that leg to run through a licensed FX transaction or a qualifying non-resident real account.
- Individual international transfers using […] The post Brazil blocks stablecoins from key cross-border payment rail as $1.1 trillion market faces new limits appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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