Brazil Modified Foreign Exchange And International Transfer Regulations

On September 9, the National Money Council and the Brazil Central Bank (BCB) corrected the regulations on foreign exchange payments and international bank transfer. Central Bank Department. Photo: BANCO CENTRAL DO Brasil revision of regulations on foreign exchange payments and international transfer to adapt to technological innovation as well as new business models in this field. In a statement, BCB stressed New regulations are provided with the aim of promoting a more competitive, comprehensive and innovative environment in providing services to send or receive foreign resources for citizens and businesses in Brazil. New France will take effect from October 2022

. It is expected that these measures will allow payment organizations registered with BCB to operate on digital platforms. So far, only banks and securities brokerage companies in Brazil can implement this type of operation. According to BCB, non-banking organizations are allowed to operate on the foreign exchange market
Using your foreign exchange account abroad to pay transactions. Brazilian exporters can also receive money in the payment account from an overseas financial institution, or in an account of A non-banking organization has been licensed to operate on the foreign exchange market.BCB said it will strengthen and modernize international payment regulations or bank transfer services in the foreign exchange market. Brazil's currency management agency affirms the new "suitable" regulations with the priority of the world's leading developed and emerging countries (G20) in improving international payment systems, solid Special aspects related to costs, time, transparency and accessibility for people. System modernization Payment will also pave the way for the process of promoting the new platform named Pix, a tool created by BCB to solve the issue of digitizing the Brazilian economy ./.

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