05/06/2026
Resolution No. 561 of the Brazilian Central Bank (“BCB“), published on April 30, 2026 and which will enter into force on October 1, 2026 (“Resolution 561“), deals with the regulation for the international payment or transfer service (eFX), aiming to improve security, transparency and greater alignment of Brazil with global standards for the prevention of financial crimes.
The eFX service is used for various purposes, such as paying for purchases abroad, contracting international services and making international transfers of funds.
The main determinations of Resolution 561 include:
- BCB Authorization: The eFX service may be provided by institutions authorized by the BCB to provide such modality, and the institution must include this hypothesis in Unicad by October 30, 2026. The unauthorized eFX provider can only continue with such service by submitting a request to the BCB until May 31, 2027 to act as a payment institution in the form of an issuer of electronic money, issuer of a postpaid payment instrument or acquirer. Until the BCB grants authorization to operate, the eFX provider has restrictions for operation.
- Investments: The eFX service was expanded to allow transactions related to investments in the financial and capital markets, both in Brazil and abroad, up to a limit of US$ 10 thousand.
- Blocking of cryptoassets in settlement: The rule expressly prohibits the use of virtual assets and stablecoins (such as USDT or USDC) in the settlement of eFX operations abroad. Financial settlement must occur exclusively via traditional foreign exchange operation or non-resident account in reais held in Brazil.
- Security and compliance: Stricter governance requirements and Know Your Customer (KYC) rules and continuous monitoring have been imposed for service providers.
- Traceability of Operations: There is a breakdown of the form of entry and exit of funds from the country, reinforcing the traceability of information and operations.
With Resolution 561, the BCB meets the expectations of the need for regulation in a sector in constant growth, but pending clear rules, especially regarding procedures and controls. By reaching a significant range of consumers, eFX services need robust regulation, which will further strengthen fintechs and institutions already structured and aligned with the best compliance practices.
Authored by: Nathália Fernandes Gonçalves
