Brazil Central Bank Updates eFX Rules, Bans Crypto for Cross-Border TransfersBrazil’s central bank has issued Resolution BCB No. 561, revising rules for international payment and transfer services (eFX). The regulation explicitly prohibits the use of crypto assets in cross-border transactions, requiring all payments to be conducted via FX operations or regulated accounts.The update also tightens compliance requirements, sets transaction limits and mandates reporting, KYC procedures, and data retention for u ...