Key Notes

Government officials told Reuters on Nov.

18 the move aims to close a regulatory loophole in forex transaction taxation.

Central Bank published regulations Nov.

10 that classify stablecoin operations as foreign exchange transactions starting February.

Crypto transactions reached 227 billion reais ($42.8 billion) in the first half of 2025, with USDT accounting for two-thirds of volume.

Brazil is considering expanding its foreign exchange transaction tax to cover cryptocurrency use in international payments, government officials told Reuters on Nov. 18, as authorities seek to close a regulatory loophole in the country’s forex taxation system.

The Finance Ministry is reviewing whether to apply the IOF tax to cross-border transfers using digital assets and stablecoins.

The Ce

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