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

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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.

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


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