​Brazil’s central bank will ban the use of virtual assets in some regulated international payment and transfer services starting May 4. The new rules apply to the eFX system, which covers cross-border payments and transfers. Banco Central do Brasil published Resolution BCB No. 561, which changes the rules for eFX providers. Under the document, payments or receipts between an eFX provider and its foreign counterparty must be carried out only through a foreign exchange transaction or through the movement of funds in a non-resident account in Brazilian reais. The use of virtual assets in this channel is ... (full story)