Brazil’s central bank bans stablecoin and crypto settlement in cross-border payments

Cryptocurrency & Free Speech Finance

Brazil’s central bank has banned electronic foreign exchange (eFX) providers from using stablecoins, bitcoin or other cryptocurrencies to settle overseas remittances.BCB Resolution No. 561, published April 30, updates rules for eFX, Brazil’s regulated system for digital international payments, purchases, withdrawals and transfers. The rule takes effect October 1, with adaptation deadlines running into 2027.Payments between an eFX provider and its foreign counterparty must move through a foreign exchange transaction or a non-resident real-denominated account in Brazil, with cryptocurrencies barred as an option.A remittance firm cannot take reais from a customer, convert the funds into USDT, USDC or bitcoin and settle…

People attend the funeral of Lebanese journalist Amal Khalil in Baissariyeh, Lebanon, April 23, 2026. Photo: AAli Hashisho/Xinhua/Alamy This Sunday is World Press Freedom Day. Like International Women’s Day, every day should really be World Press Freedom Day. Journalists are powerful watchdogs and protecting them should be a baseline requirement for a free society. But given how woeful the state of media freedom is right now – the number of murdered journalists being at a record high – a day of focus is clearly much needed. So too is a monument. The UK will have its first one dedicated to journalists killed in conflict zones next year, the design of which has just been revealed. Former Index trustee Sarah Sands spoke to us about it. Meanwhile, the Committee to Protect Journalists (CPJ), run by Jodie Ginsberg who used to to work at Index, is calling for an independent global body to support investigations into attacks on the media. Veteran foreign correspondent Christina Lamb echoed these calls, speaking days after Lebanese journalist Amal Khalil was killed in an Israeli airstrike. That there are many people working hard to address the dire situation is welcome. At Index these threats impact us on several levels. They feed into our campaigning programmes, while the editorial team work with people very much at the coal face. I joined the organisation in 2017 and one of the first articles I edited featured an interview with a Mexican journalist called Javier Valdez. A few months later Valdez was dead, shot 12 times by an unidentified gunman in broad daylight. That same year, and for several years after, I was in regular email correspondence with Andrei Aleksandrau, a former Index colleague and journalist from Belarus. In 2021 he was arrested in Minsk. A year later, another one of our contributors, Larysa Shchyrakova, was arrested. Fortunately Shchyrakova is out of jail and you can read about her experiences here. Aleksandrau is still being held. We also published Victoria Roschyna from Ukraine who was killed in 2024. I could list many similar examples, suffice to say the Index archive is a treasure trove, but it’s also a space where the words of the murdered and the wrongfully detained stand still, ossified, a sad and damning testament to the perils of simply observing. As I said, World Press Freedom Day should be every day and we work on media freedom issues 24/7. Still, we have commissioned a trilogy of pieces this week with the date in mind: Oren Persico writes from Israel on the media ecosystem there; Nedim Turfent, a former political prisoner in Turkey, talks about the threats directed at exiled media in Europe; and Dahlia Kholaif speaks to people on the ground in the Gulf about how the Iran war has amplified the ugly authoritarian reality of these states. Are journalists the canary in the coalmine, the first to be attacked during a democratic backslide? Perhaps, though I’ve heard artists and minority groups claim the same. What’s true is that journalists are the much needed fourth estate. They are a vital check on governments and the powerful. Journalists risk their lives to inform ordinary citizens about what is happening – and they’re now under unprecedented attack around the world. That fact should shame us all. READ MORE

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Media & Culture

Victims of Communism Day – 2026

Bones of tortured prisoners. Kolyma Gulag, USSR (Nikolai Nikitin, Tass). (NA)   NOTE: This post largely reprints last year’s Victims of Communism Day post, with some modifications. Today is May Day. Since 2007, I have advocated using this date as an international Victims of Communism Day. I outlined the rationale for this proposal (which was not my original idea) in my very first post on the subject: May Day began as a holiday for socialists and labor union activists, not just communists. But over time, the date was taken over by the Soviet Union and other communist regimes and used as…

AI & Crypto

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Politics

A Pointless War: How Iran Hawks Finally Got Their Way

Media & Culture

The Strait of Hormuz is straight out of a storybook. Named for an ancient Persian god, the 24-mile-wide waterway flows between jagged cliffs, inlets that look like a desert version of Scandinavian fjords, and multicolored salt formations. Centuries-old Portuguese castles…

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