Brazil’s Finance Minister, Dario Durigan, has paused active work on crypto tax policy until after the presidential election in October 2026, saying he does not want to advance potentially divisive tax changes during an election year, sources told Reuters. A public consultation that had been scheduled for later this year may be pushed into 2027, although officials say the issue remains on the radar.
In June 2025 Brazil ended a tax exemption for gains from smaller cryptocurrency sales or transfers and implemented a 17.5% flat tax on crypto capital gains, covering offshore holdings and self-custodial assets. Under the previous rules, residents were exempt on monthly sales up to 35,000 Brazilian reais (about $6,587); amounts above that threshold were taxed at progressive rates between 15% and 22.5%.
In November 2025 the central bank issued rules treating stablecoin transfers as foreign currency exchanges, bringing them under the same tax regime. The government is also considering proposals to tax cryptocurrencies used for international payments and is working to align reporting rules with the international Crypto-Asset Reporting Framework (CARF).
The delay in moving forward comes as crypto adoption in Brazil continues to rise. Chainalysis ranks Brazil fifth globally and first in Latin America. Worldometer data put Brazil’s population at more than 213 million, with a median age of 33.5 and over 91% living in urban areas. Chainalysis reported that Latin America’s crypto adoption grew 63% in 2025, reflecting increased retail and institutional activity.
Regulators and market participants are likely to watch closely for new consultation timelines and any changes to taxation, cross-border transfer rules, and reporting standards once policy work resumes after the election.