Stablecoins account for 80% of transactions involving declared cryptocurrency assets to the Federal Revenue.
Summary
- About 80% of the crypto assets trading volume reported to the IRS in 2025 consists of stablecoins.
- Tether’s USDT transferred around R$ 1 trillion from August 2019 to December 2025, with 88.7% of the total volume.
- Operations involving cryptocurrencies amounted to R$ 1.58 trillion during the period, with R$ 1.13 trillion in stablecoins.
- DeCripto takes effect in July, requiring foreign platforms to report transactions involving Brazilian customers.
- The involvement of stablecoins surged from 3.5% in 2019 to reach a peak of 94.3% in July 2023.
Stablecoins, which are cryptocurrencies designed to mirror the value of traditional currencies like the dollar and real, have started to take over the Brazilian digital asset market.
Approximately 80% of cryptocurrency trading volume reported in 2025 was accounted for by these assets, as indicated by Federal Revenue data.
This action takes place right before the launch of DeCripto, a new platform for declaring crypto assets.
The tool will be required starting in July as part of the government’s efforts to increase supervision of transactions involving digital assets.
Stablecoins are becoming increasingly prominent.
Stablecoins are digital currencies designed to keep a steady value, often linked to a traditional currency like the dollar or real.
They are commonly utilized for international transfers, managing resources, and protecting against market fluctuations due to their lower volatility compared to assets like Bitcoin and Ethereum.
As a consequence, this category of asset no longer played a secondary role and started to take charge in the country’s negotiations.
Between August 2019 and December 2025, Brazilians reported approximately R$1.58 trillion in cryptocurrency transactions to the IRS. Stablecoins made up around R$1.13 trillion of this total, accounting for 71.7%. Furthermore, stablecoins consistently represented over 80% of the monthly trading volume in recent years.
Accelerated expansion in recent years
Data indicates that this shift occurred rapidly.
In 2019, stablecoins represented just 3.5% of reported transactions. However, by 2022, their share surged to 79.7%, indicating investors’ increasing favor for assets with lower volatility.
In 2023, the percentage peaked at 91.5%, hitting its highest point for the month at 94.3% in July.
Despite the rise of various cryptocurrencies in 2024 and 2025, stablecoins remained the dominant choice in the Brazilian market, representing between 76% and 80% of the declared transactions during that period.
In November 2025, the financial volume experienced significant growth, with stablecoin transactions amounting to R$ 39.7 billion, the highest monthly value ever recorded by the Revenue.
USDT is in the lead by a significant margin.
The dominant asset in this market is USDT, a stablecoin created by Tether and pegged to the US dollar.
According to the IRS, she accounted for 88.7% of all trading volume between August 2019 and December 2025, which is about R$ 1 trillion.
The USDC, linked to the dollar, has a 7.1% share, while the BRZ, a stablecoin backed by the real, accounts for 3.4% of the reported volume.
Operations fired have increased.
The quantity of negotiations increased notably along with financial growth.
During the period studied, there were 185.7 million stablecoin transactions documented.
This trend became even more pronounced starting in 2024. In November of that year alone, 18.2 million transactions were reported using these funds, compared to the overall crypto market’s 31.9 million transactions.
Stablecoins made up the majority of the financial volume and a growing portion of transactions by Brazilian investors.
DeCripto increases oversight.
As the market expands, the IRS gets ready for a new phase of oversight.
DeCripto, a system developed to standardize how transactions with digital assets are reported, was introduced in July.
The platform, created under the RFB Normative Instruction no 2.291/2025, adheres to the global standard Crypto-Asset Reporting Framework (CARF) established by the Organization for Economic Cooperation and Development (OECD).
The Fisco’s goal is to enhance market transparency and combat currency evasion, money laundering, and illicit activity financing.
Additionally, the new requirement will also apply to brokers and providers of crypto services located outside Brazil that offer their products to customers in Brazil.
The Revenue emphasizes that providing this information will be required even if no taxes are owed, as stipulated in Law 14.754/2023 and the regulatory instruction establishing DeCripto.
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- Cryptocurrencies are digital currencies.
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- Stablecoins are a type of digital currency.
