The Brazilian government is preparing new tax policies for Crypto Assets, with stablecoins as a focus.

Source: Exame Original Title: Government prepares new taxation on cryptocurrencies, with 'digital dollar' in sight Original Link: The Brazilian federal government confirmed last Wednesday (the 26th) that it is preparing to update its tax policy on cryptocurrencies. According to the Executive Secretary of the Ministry of Finance, Dario Durigan, the focus is on the use of these assets in international operations, with an emphasis on strengthening the expectations regarding the IOF tax levied on so-called stablecoins.

Durigan was asked about the topic at the press conference. The secretary did not elaborate on the details and timing of the tax review but confirmed that the government is currently studying this possibility, following the regulatory updates from the department.

He pointed out that “from the perspective of advantages, [cryptocurrency taxation] is a topic worth exploring in depth. We will deliver taxation and regulation of crypto assets, which is deserved.” The secretary also stated that the government hopes to eliminate “loopholes” in taxation.

The government's assessment is that Brazilians have been able to conduct international exchange operations using cryptocurrencies without having to pay IOF. For this purpose, stablecoins paired with the US dollar are typically used, which, according to Durigan, have gained traction as alternatives to traditional foreign exchange.

In this regard, he emphasized that the government economic team will “deliver the regulation and taxation of crypto assets.” This initiative comes after the central bank released official rules that companies must follow to operate in the Brazilian crypto market.

In the measures, the central bank decided to equate international cryptocurrency operations with foreign exchange market operations. This decision opens up space for taxing these operations through the IOF, triggering new discussions within the government.

The government also believes that correcting this regulatory gap could help increase federal tax revenue, a topic that has gained more attention this year as the government seeks new sources of income to reduce the public deficit.

Data released by the Federal Revenue Service indicates that cryptocurrency transactions amounted to 22.7 billion reais in the first half of 2025. Of this, more than two-thirds were related to stablecoins. The primary one is USDT, issued by Tether and paired with the US dollar.