Stablecoins account for over 80% of cryptocurrency transactions reported to the Federal Revenue.
Read the news overview.
- Stablecoins dominate the Brazilian cryptocurrency market, representing over 80% of the monthly trading volume reported to the IRS.
- Between August 2019 and December 2025, stablecoins accounted for R$1.13 trillion, which made up 71.7% of the total of R$1.58 trillion declared.
- Stablecoins’ involvement hit 91.5% in 2023, reaching a peak of 94.3% in July, and stayed within the range of 76% to 80% in both 2024 and 2025.
- USDT, pegged to the dollar, dominates 88.7% of stablecoin transactions in Brazil, with USDC following at 7.1% and BRZ at 3.4%.
- The Federal Revenue is expanding oversight through DeCripto, which will now mandate that brokers submit details on transactions involving digital assets starting in July 2026.
Stablecoins solidified their position as the top choice in the Brazilian cryptocurrency market.
The information disclosed by the IRS on Tuesday indicates that these assets represented over 80% of the monthly trading volume of declared crypto assets in recent years.
The survey collects data on transactions involving cryptocurrencies totaling around R$ 1.58 trillion, reported from August 2019 to December 2025.
71.7% of the total amount, equivalent to R$ 1.13 trillion, was attributed to stablecoins. These are cryptocurrencies designed to maintain a stable value by being pegged to traditional currencies like the dollar and real.
Since 2020, these assets have been increasingly prominent and have taken over the Brazilian market, as per Revenue.
Participation has exceeded 90%.
The information indicates that stablecoins’ involvement peaked in 2023.
That year, those assets accounted for 91.5% of the monthly volume reported to the IRS, peaking at 94.3% in July.
Participation saw a small decline in the subsequent years but stayed at a high level. Stablecoins accounted for 76% and 80% of the reported transactions in 2024 and 2025.
The highest monthly activity took place in November 2025, with transactions involving stablecoins reaching R$ 39.7 billion.
USDT accounts for nearly 90% of the trading volume.
USDT, issued by Tether and pegged to the dollar, is the top stablecoin in Brazil.
The IRS reported that the asset accounted for 88.7% of the total trading volume from August 2019 to December 2025, amounting to around R$ 1 trillion in declared transactions.
The USDC, representing 7.1% of the total, and the BRZ, a stablecoin linked to the Brazilian real, accounting for 3.4% of the volume, are next in line.
In addition to experiencing financial growth, there was also a significant increase in the number of operations. Overall, 185.7 million transactions involving stablecoins were recorded by the Revenue during the period studied.
In November 2024, there was a record high of 18.2 million operations involving assets and 31.9 million transactions in the Brazilian cryptocurrency market.
Revenue expands supervision using DeCripto.
The data is being shared just before the implementation of DeCripto, a new system for reporting transactions involving digital assets established by RFB Normative Instruction no 2.291/2025.
Brokers and crypto service providers, as well as foreign-based companies serving Brazilian clients, are required to report information to the IRS based on the international standard Crypto-Asset Reporting Framework (CARF) established by the OECD, following operations conducted in July 2026.
The agency’s new requirement aims to enhance oversight of the digital assets market and combat currency evasion, money laundering, and illicit activity financing.
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- Stablecoins are cryptocurrencies designed to minimize price volatility.
