Stablecoins Drive 90% of Brazil’s Crypto Volume, Tax Authority Data Shows
Stablecoins account for up to 90% of Brazil's reported crypto volume, prompting the tax authority to implement a new tracking system in 2025.Summary
Data from Brazil's tax authority (Receita Federal) reveals that monthly reported crypto transactions are reaching between $6 billion and $8 billion, potentially hitting $9 billion by 2030. Crucially, stablecoins like USDT and USDC now constitute up to 90% of this volume, sidelining Bitcoin. In response to this scale and shift, the Receita Federal is replacing its current reporting rule (IN 1.888) with a new system called DeCripto, starting in July 2025. DeCripto is based on the OECD's Crypto-Asset Reporting Framework (CARF) and mandates detailed transaction classification, with data collection beginning in January 2025. These regulatory changes coincide with the central bank introducing comprehensive crypto regulations that establish licensing regimes and capital requirements for service providers.
(Source：CoinDesk)