Brazil’s Finance Minister, Dario Durigan, has decided to shelve a planned public consultation on cryptocurrency tax policy until after the country’s presidential elections in October 2026. The move is intended to avoid pushing through changes that could prove divisive during an election cycle. Sources familiar with the matter told Reuters that while the consultation may not take place until 2027, it still remains on the government’s agenda.
The postponement follows a significant shift in Brazil’s approach to crypto taxation. In June 2025, the country ended its longstanding policy of exempting smaller cryptocurrency sales from capital gains tax, replacing it with a flat 17.5% rate on crypto capital gains. The new rate applies to gains from offshore holdings and self-custodial wallets as well as domestic transactions.
Under the previous framework, residents who sold up to 35,000 Brazilian real — roughly $6,587 — per month faced no capital gains tax on any profits. Those who exceeded that monthly threshold were subject to progressive tax rates ranging from 15% to 22.5%. The June 2025 reform replaced this tiered structure with the uniform flat rate.
Further regulatory changes followed later in the year. In November 2025, Banco Central do Brasil, the country’s central bank, introduced rules classifying stablecoin transfers as foreign currency exchange transactions, making them subject to the same tax laws that govern conventional foreign exchange. The government is also examining proposals to tax cryptocurrencies used for international payments and is working to align its reporting standards with the Crypto-Asset Reporting Framework (CARF), an international monitoring standard for crypto transactions.
The decision to delay the consultation comes at a time when crypto adoption in Brazil is expanding rapidly. Brazil ranks fifth globally on Chainalysis‘s crypto Global Adoption Index and holds the top position for adoption within the Latin America region. The country’s large and relatively young population — over 213 million people with a median age of 33.5 years, according to Worldometer — and high urbanisation rate of over 91% are seen as factors supporting continued growth in the sector.
The broader regional picture also reflects strong momentum. According to Chainalysis, Latin America’s crypto adoption grew by 63% in 2025, driven by rising participation from both retail and institutional segments. Brazil’s regulatory decisions are therefore being watched closely, as they are likely to influence how the wider region approaches crypto governance in the coming years.
Originally reported by CoinTelegraph.
