The shift toward stablecoins represents a major change in Brazil's crypto ecosystem, where Bitcoin once held the dominant position.
Stablecoin News
Brazil's crypto market processes between $6 billion and $8 billion monthly, with stablecoins like USDT and USDC dominating up to 90% of reported transaction volume in some months. Flavio Correa Prado, auditor at Brazil's tax authority Receita Federal, disclosed the figures during a technical presentation at Blockchain Conference Brasil.
Monthly volume could climb to $9 billion by 2030 if current trends continue, Prado stated. The shift toward stablecoins represents a major change in Brazil's crypto ecosystem, where Bitcoin once held the dominant position.
Receita Federal plans to replace its existing crypto reporting rule, known as IN 1.888, with a new system called DeCripto starting July 2025. The transition reflects regulatory adaptation to the scale and composition of crypto activity in the country.
DeCripto draws from the Crypto-Asset Reporting Framework developed by the OECD and adopted by over 60 countries. The international standard enables automatic exchange of tax information between jurisdictions, giving local authorities access to data on offshore cryptocurrency transactions.
Exchanges will need to classify transactions into specific categories under the new rules. Required classifications include crypto-to-fiat trades, crypto-to-crypto swaps, retail payments exceeding $50,000, wallet transfers, and movements to unhosted wallets.
Data collection under the framework begins in January 2026, several months before the July implementation date. The phased approach gives market participants time to adjust systems and processes to meet reporting requirements.
Brazil's central bank is simultaneously introducing its most comprehensive crypto regulations to date. The framework establishes a licensing regime for crypto service providers and brings numerous activities under existing foreign exchange and capital market rules.
Crypto firms will need to maintain between $2 million and $7 million in capital, depending on business type. Foreign companies serving Brazilian clients must establish local entities to continue operations under the new regime.
Companies face a nine-month compliance window to meet all requirements. Firms that miss the deadline risk being prohibited from operating in Brazil's market, which has become one of Latin America's largest crypto hubs by transaction volume.
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