"According to data released by the Central Bank of Brazil, stablecoin purchases comprised $6.8 billion of the $6.9 billion in cryptocurrency purchased abroad by Brazilians during Q1. This represents an increase of over 100% compared to the same period last year."
"Stablecoins have emerged as an alternative for payments and remittances and are not subject to financial taxes, unlike regular currencies. This means that $6.8 billion of the total volume corresponded to stablecoin purchases."
"President Luiz Inacio Lula da Silva has reportedly suspended this action to focus on the upcoming presidential elections, which has contributed to Brazil becoming the fifth-largest global market for cryptocurrencies."
"Fernando Rocha highlighted that due to the ongoing regulatory process for crypto exchanges, the bank expects to have a more accurate estimate of these volumes."
In Q1 2026, Brazil's cryptocurrency transactions reached $6.9 billion, with stablecoins making up 98% of this volume. This represents a significant increase from the previous year. Stablecoins are favored for payments and remittances due to their tax advantages. President Lula da Silva has paused plans for financial taxes on stablecoin transactions, which has contributed to Brazil becoming the fifth-largest global market for cryptocurrencies. The Central Bank of Brazil anticipates improved transaction data from new crypto exchange regulations expected by H2 2026.
Read at news.bitcoin.com
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