Stablecoin tax measures spark heated debate in Brazil

Rumors of taxing stablecoin flows in Brazil have sparked debate between some lawmakers and the Ministry of Finance. The ministry is preparing a prescriptive law on the subject, but lawmakers have said they oppose such proposals.

Showdown: Stablecoin tax sparks debate in Brazil

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An upcoming proposal aimed at taxing the flow of stablecoins as remittances is causing dissonance within Brazil’s government as the Treasury prepares to take action.

According to a report in Valor Econômico, some members of Brazil’s Congress oppose the measure, which is being prepared and is expected to be enacted by normative law. However, the rate paid on these transactions is not defined.

On Wednesday, Treasury Secretary General Dario Durigan stressed that financial institutions are committed to achieving this goal. “We are going to tax and regulate crypto assets. Yes, this is natural,” he declared at a press conference.

Deputy Secretary General Aureo Ribeiro responded by saying that he opposes any attempt to impose taxes on stablecoins and other cryptocurrencies. He declared:

I’m completely against that. I do not tax stablecoins pegged to the dollar or stablecoins pegged to the real.

Ribeiro stressed that the measure, if approved, would harm the Brazilian people. “If I can use cryptocurrencies, foreign digital assets that are not taxed, why use the Brazilian one? I will continue to use it,” he argued.

“They’re listening to the wrong people. I don’t think the government has ever been given proper advice. They don’t understand the subject matter,” he concluded.

Why is it relevant?

Passing these measures to tax stablecoin and cryptocurrency flows as foreign currency would impact growing adoption in Brazil and drive users to foreign or unknown platforms that are not subject to domestic regulation.

Aureo said it would not only change the way Brazilians use stablecoins, but also discourage investment and drive crypto capital out of the country.

read more: Brazil issues new cryptocurrency regulations, tightens controls on stablecoin transactions and VASPs

According to official figures, stablecoin inflows reached more than $30 billion in the first half of 2025. If the measure is ultimately approved, future funds would have to be taxed.

I’m looking forward to it

Giving stablecoins the same tax treatment as foreign currencies is likely to have a negative impact on adoption, but it would also help level the playing field with fiat currencies like the US dollar and gauge the true attractiveness of stablecoins.

FAQ

• What are the proposals for stablecoins in Brazil?
  Brazil’s Ministry of Finance is preparing a proposal to tax stablecoin flows as remittances, creating dissonance within the government.

• What are the main points of contention?
  Some members of Congress oppose this tax measure, arguing that it could negatively impact the adoption and use of stablecoins in Brazil.

• What did Treasury Secretary General Dario Durigan say?
  Durigan emphasized the government’s efforts to regulate and tax crypto assets as essential to the economy.

• How might this tax proposal affect the use of cryptocurrencies in Brazil?
  Taxing stablecoins could drive users to overseas platforms, discourage domestic investment, and reduce cryptocurrency adoption.