Brazil Central Bank Writes Gambling Ban Into Pix, Boleto and TED Rules

Brazil's Central Bank issued three resolutions on September 30 embedding the fixed-odds betting ban directly into the operating rules of Pix, boleto and TED. Resolution BCB No. 597 amended Pix's founding 2020 regulation for the first time in its six-year history. The block is retroactive to September 25, when provisional measure MP 1.394 was published.

• Resolution BCB No. 597 amended Pix's founding Resolution No. 1 of August 12, 2020
• Resolutions No. 595 and No. 596 extended the ban to TED and boleto
• Pix handles over 90% of payments to betting operators, up to R$20bn monthly
• Only account wind-down and refunds to bettors remain permitted