Catenaa, Tuesday, March 24, 2026- Brazil’s new finance minister, Dario Durigan, has put a planned public consultation on crypto taxation on hold as the government shifts focus to the October presidential election, according to people familiar with the matter.
Durigan, who assumed the post Friday after his predecessor stepped down to run for governor of São Paulo, decided against advancing potentially divisive tax measures during an election year, the sources told Reuters. The consultation was expected to shape future tax rules for digital assets, including stablecoin transactions, but will be paused as legislative priorities pivot to other economic initiatives.
Context
The shelved crypto tax consultation had been seen as a key step in Brazil’s evolving regulatory framework for digital assets. Last November, the central bank finalized rules bringing crypto service providers under the umbrella of the financial sector, requiring authorization to operate and subjecting stablecoin activity and virtual asset cross‑border transfers to foreign exchange oversight.
Central bank chief Gabriel Galipolo said domestic crypto use has surged in the past three years, with about 90 % of activity tied to stablecoins, according to Reuters. The planned tax consultation was designed to clarify how gains and flows from crypto use would be treated under Brazil’s tax code.
But Durigan, 41, indicated that winning political support for contentious tax issues this year could prove difficult, and prefers to conserve political capital for less polarizing reforms. Treasury priorities now include economic regulation of big tech, rules for managing financial institution stress, and advancing the Redata data center investment program.
Implications
Delaying the crypto tax consultation leaves a major piece of regulatory clarity unresolved at a time when Brazil ranks as one of the fastest‑growing digital asset markets in the world. According to Chainalysis’ Global Crypto Adoption Index, Brazil ranks fifth globally and first in Latin America, with roughly $318.8 billion in crypto value received from July 2024 through June 2025.
Institutional interest has also been on the rise: Paradigm made its first Brazil investment in December, supporting Brazil‑focused stablecoin startup Crown with a $13.5 million funding round.
Service providers must still meet the central bank’s compliance deadline of November 2026 for the rules finalized last year. But without clear tax guidance, businesses and investors may face continued uncertainty over how crypto activity will be taxed, potentially slowing certain types of market growth.
The broader fiscal pause also affects other proposals. A plan to end tax exemptions on certain investment securities failed to advance in Congress last year and may now be deferred until after next year’s presidential transition.
President Luiz Inacio Lula da Silva, who faces a potentially close reelection contest that could go to a runoff against Senator Flavio Bolsonaro, asked Durigan to emphasize economic development and a favorable environment for business, according to the Reuters report.
