BCB 521 and Stablecoins: What Changes for Currency Exchange in Brazil

Executive Summary

BCB 521 classified foreign currency stablecoins as FX operations when used for international payments and remittances — with a 3.5% IOF and capital requirements. Furthermore, BCB 561 (April 2026) prohibits eFX companies from using stablecoins as remittance settlement rails starting October 2026, restricting this market to full authorized institutions.

Overview

Since February 2026, international payments via stablecoins (USDT/USDC) are officially classified as FX operations. Authorized exchange houses have a unique advantage: they already hold the license required by the new regulatory landscape.

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Ricardo Zago

Consultant and Co-founder of Avalon Blockchain Consulting · Blockchain Professor at FIAP · Startup Mentor

Ricardo Zago works on structuring blockchain businesses, real asset tokenization, and stablecoins for the corporate market. He develops projects at the intersection of traditional markets and decentralized infrastructure, focusing on regulatory feasibility and generating results for Brazilian companies.

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