Brazil’s Finance Minister, Dario Durigan, has shelved plans for a new cryptocurrency tax policy until after the October 2026 presidential elections, citing concerns over political divisiveness.
The move pauses a previously scheduled public consultation, which may now be delayed into 2027. The decision follows Brazil’s 2025 shift from tax exemption to a 17.5% flat rate on crypto capital gains-applying even to offshore and self-custodial holdings.
Previously, residents were exempt from taxes on profits from up to 35,000 BRL ($6,587) monthly in crypto sales, with progressive rates above that threshold.
In November 2025, Banco Central do Brasil classified stablecoin transfers as foreign currency exchanges, subjecting them to existing forex tax rules.
The government is also considering taxing crypto used for international payments and aligning its reporting standards with the global Crypto-Asset Reporting Framework (CARF).
Despite these regulatory efforts, Brazil remains a global leader in crypto adoption-ranking fifth worldwide and first in Latin America according to Chainalysis.
