Stablecoins Drive 90% of Brazil’s Crypto Volume, Tax Authority Data Shows
Brazil’s crypto market is moving billions of dollars a month, and regulators are taking notice.
In a technical presentation at the Blockchain Conference Brasil, Flavio Correa Prado, an auditor at Brazil’s tax authority, the Receita Federal, revealed that crypto transactions reported under existing rules have reached between $6 billion and $8 billion per month.
If current trends continue, that figure could rise to $9 billion monthly by 2030, he said. Most of that volume comes from stablecoins like USDT and USDC, which now account for up to 90% of all reported transactions in some months. Bitcoin, once dominant, has become a secondary player as the country adopts stablecoins.
This shift toward stablecoins and the scale of the volumes is…
