Financial Market: main news from 04 to 08/05
1. BCB updates rules applicable to international payment or transfer services (eFX)
On April 30, the BCB approved Resolution BCB No. 561, which updates the rules governing the provision of international payment or transfer (eFX) services, with a focus on greater security, transparency, and alignment with global standards for the prevention of financial crimes. The regulation restricts the provision of the service to institutions authorized to operate by the BCB, requires the periodic submission of information to the regulator, mandates the use of segregated accounts for the transfer of client funds, and confirms the prohibition on the use of virtual assets for the payment or receipt of funds under this model. In addition, it expands the scope of eFX by allowing transfers related to investments in the financial and capital markets, in Brazil or abroad, up to a limit of US$10,000. The Resolution takes effect on October 1, 2026.
BCB Resolution No. 561 of April 30, 2026
2. ANBIMA’s tokenization pilot project moves into testing phase with debentures and investment funds
ANBIMA’s Tokenization Pilot Project has moved into the testing phase, with 20 use cases selected from 39 proposals submitted by the market. The initiatives, presented by more than 50 institutions, including banks, asset managers and technology companies, will test practical tokenization applications involving debentures and investment funds. This new stage will allow the simulation, in a controlled environment and without the movement of real funds, of different phases of the asset life cycle, including structuring, issuance, transfer, events and settlement. Expected to last approximately six months, the pilot seeks to map operational challenges, test the use of DLT (Distributed Ledger Technology) infrastructures and generate practical insights to support the development of tokenization in the Brazilian capital markets.
Pilot project for tokenization enters testing phase with debentures and investment funds
3. CMN and BCB regulate new framework for the protection of financial services users
On Monday, May 4, the CMN and the BCB issued rules regulating Law No. 15,252, which established the new legal framework for the protection of financial services users. The regulatory package addresses salary portability, automatic debit, the right to information and transparency in credit offerings, as well as the new special credit modality with reduced interest rates. The measures strengthen the digital customer journey, improve rules for the authorization and cancellation of account debits and establish information and advisory duties for individual clients. Taken together, the rules signal progress in the agenda for user protection, prevention of over-indebtedness and responsible credit offering. Most of the new rules will enter into force on July 1, 2027.
CMN Resolution No. 5,299 of 4/5/2026
BCB Resolution No. 564 of 4/5/2026
BCB Resolution No. 565 of 4/5/2026
4. Law No. 15,397 increases penalties for digital fraud and criminalizes the assignment of “mule accounts”
On Monday, May 4, Law No. 15,397 was published, amending the Brazilian Criminal Code to increase penalties applicable to property crimes and strengthen the fight against digital fraud, with particular emphasis on the criminalization of so-called “mule accounts”. The new rule punishes any person who provides, whether free of charge or for compensation, a bank account for the movement of funds intended to finance criminal activity or derived from such activity, with imprisonment from one to five years, in addition to a fine. The law also revises the criminal treatment of electronic fraud, establishing imprisonment from four to eight years and a fine when the offense is committed through social media, telephone contacts, fraudulent emails, duplication of electronic devices or applications, or other similar means. The measure comes amid increased attention from public authorities and the financial sector to the use of bank accounts in digital scams and fraud schemes, including recent self-regulation initiatives aimed at identifying and closing illicit accounts, as well as refusing suspicious transactions. The new law entered into force on the date of its publication.
New law toughens penalties for digital scams and 'dummy accounts'
5. Provisional Measure on “New Desenrola Brasil” expands debt renegotiation with guarantees and safeguards against re-indebtedness
On Monday, May 4, the federal government published the Provisional Measure enabling “New Desenrola Brasil”, a new phase of the debt renegotiation program aimed at individuals with monthly income of up to five minimum wages. The initiative provides significant discounts, reduced interest rates and extended payment terms, as well as the possibility of using part of the FGTS balance to reduce outstanding debts. The program will also rely on FGO guarantees to lower transaction risk and allow more favorable conditions for debtors. Among its key features, the Provisional Measure establishes a temporary restriction on online betting for individuals who join the program using FGTS funds, in an effort to combine financial relief with safeguards against renewed indebtedness. Financial sector entities, such as Febraban and Zetta, expressed support for the initiative and highlighted the importance of complementary financial education measures.
Government publishes executive order that enables the new "Desenrola Brasil" program
Zetta praises Desenrola and says she will continue collaborating to promote financial education
Febraban says Novo Desenrola can restore financial breathing room to millions of Brazilians
