Brazil Eyes Tax on $43 Billion Crypto Transfer Market

Following a central bank ruling, Brazil is preparing to tax the massive market for cross-border crypto payments.

Two sources confirm the Finance Ministry is planning to levy its IOF tax on international transfers using virtual assets.

This move targets a market that saw 227 billion reais ($42.8 billion) in transactions in the first half of 2025, 66% of which was the stablecoin USDT. The tax aims to level the playing field with traditional forex and could aid the government’s strained fiscal goals.