Overview

• Under the draft, only institutions authorized by the Banco Central would be allowed to offer eFX, with a transition period to be defined for current non‑authorized providers.
• Authorized firms would have to notify the central bank before offering the service and submit monthly reports on transactions and movements in reais.
• Providers would be required to use an exclusive deposit account in their own name to receive and deliver reais to customers.
• Transfers and investment‑related operations conducted via eFX would face a cap of US$10,000 per transaction, with mandatory disclosure of the Valor Efetivo Total to customers.
• The draft resolution and reporting templates are available on the Banco Central website and the Participa + Brasil portal, and the consultation also asks whether eFX can be provided via a Banking‑as‑a‑Service model.