Number of Brazilian Companies Transacting With Digital Assets Increased Again in October

More than 41,000 firms conducted some form of operation with crypto assets, according to the local tax authority, Receita Federal.

AccessTimeIconDec 7, 2022 at 4:44 p.m. UTC
Updated Dec 7, 2022 at 5:09 p.m. UTC

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

For the first time in a single month, more than 41,000 Brazilian companies made transactions with digital assets, the South American country's tax authority Receita Federal has reported.

According to the report, 41,817 companies in Brazil declared operations made with digital assets in October, up from 40,161 firms in September and 37,741 in August.

Brazilian companies began reporting transactions with crypto to the government in August 2019 after the passage of a new law that year.

This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Paulo Alves

Paulo Alves is a crypto editor at InfoMoney, a leading financial news publication in Brazil.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.