Brazil’s Central Bank Introduces Exclusive Code for Online Betting Transactions and Updates eFX Rules

Recently, Resolution No. 561/2026 was issued by Brazil’s Central Bank concerning the regulation of international payment and transfer services (eFX). One of the noteworthy innovations introduced with the updated regulation relates to assigning a special classification code for online gaming-related payments. The move represents one more step towards enhanced tracing of cross-border transactions performed in the betting sphere.

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Starting from October 1, 2026, all international financial transactions connected to the betting activities should be classified as having code “34045“. It is expected to provide enhanced transparency of financial flow and help in regulating the gaming market. The updated regulation refers to Annex V of Resolution No. 277/2022. The Central Bank’s document also contains provisions about financial institutions’ reporting duties related to transactions carried out in the field.

Restrictions on Transactions and Crypto Ban

Another provision introduced by the document concerns limitations on payments made using eFX technologies. When payments are made via these technologies, without integration with an e-commerce platform, the amount cannot exceed USD 10,000. Also, there are limits imposed on the amount of payments connected to financial market operations. It cannot exceed USD 10,000.

Besides the limitation concerning the maximum payment amount, there is an obligation to perform payments between the eFX operators and their foreign counterparties only by foreign currency operations or in Brazilian reais deposited on the accounts of non-residents. Virtual assets cannot be used in such operations. Operators also need to ensure that all the funds transferred are coming from user accounts.

The payment instruments available for transfer are boleto or limited payment instruments for no more than BRL 1,000, and no reloading is permitted. Moreover, the Central Bank requires operators not to carry out offsetting of incoming and outgoing payments.

Registration and Other Obligations of Institutions

To meet the terms of the new requirements, the institution providing eFX services needs to register this modality by the 30th of October 2026. Non-authorized institutions should obtain the required permits by the end of May 2027; failing to do so would result in the mandatory cessation of their operation.

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It is essential for all operators and payment partners to upgrade their reporting systems according to the requirements for compliance with the foreign exchange surveillance system.

Taxation, Reporting and Data Protection Requirements

Among other obligations, institutions should ensure keeping complete information on their transactions for no less than ten years to enable subsequent auditing.

In relation to reporting duties, monthly reports are required to be presented by financial institutions operating with foreign currencies, managing clients’ accounts, and/or performing payment processing operations. These institutions are obliged to transmit transaction data to the Central Bank before the 10th of the following month.

Moreover, some terminology should be clarified. The document determines “user sender” and “user recipient” roles as well as “foreign counterparty“.

The creation of the special classification code for bets marks another step taken by Brazilian authorities in the direction of improved regulation in the rapidly developing online gambling market. Through enhanced transparency and increased compliance requirements, risks related to possible criminal activity associated with financial transactions in this market are supposed to be mitigated.

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Source: BNL Data