Brazil’s Finance Minister, Dario Durigan, has postponed active work on crypto tax policy until after the country’s presidential election in October 2026, citing a desire to avoid advancing “divisive” tax changes during an election year, sources told Reuters. A public consultation originally planned for later this year may be pushed into 2027, though officials say the matter “remains on the radar.”
In June 2025 Brazil ended a tax exemption for gains from smaller cryptocurrency sales or transfers and introduced a 17.5% flat tax on crypto capital gains, applying to offshore holdings and self-custodial assets. Under the previous rules, residents who sold up to 35,000 Brazilian real (about $6,587) per month were exempt from capital gains tax; amounts above that threshold were subject to progressive rates of 15% to 22.5%.
In November 2025, Banco Central do Brasil issued rules treating stablecoin transfers as foreign currency exchange, making them subject to the same tax laws. The government is also considering proposals to tax cryptocurrencies used for international payments and is aligning reporting rules with the Crypto-Asset Reporting Framework (CARF), an international standard for monitoring crypto transactions.
The decision to delay the consultation occurs as crypto adoption in Brazil continues to rise. Chainalysis ranks Brazil fifth globally on its Global Adoption Index and first in Latin America. Brazil’s population exceeds 213 million, with a median age of 33.5 and more than 91% living in urban areas, according to Worldometer data. Chainalysis reported that Latin America’s crypto adoption grew 63% in 2025, reflecting increased retail and institutional activity.
Regulators and market participants will likely remain attentive to future consultation timelines and evolving rules on taxation, cross-border transfers, and reporting standards once policy work resumes after the election.