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.
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.