An upcoming proposal that aims to tax stablecoin flows as remittances is brewing discord among the ranks of the Brazilian government, as the Ministry of Finance prepares to take action.

According to reports from Valor Econômico, some members of the Brazilian Congress oppose this measure, which is under preparation and would be enacted through a normative act. However, the rate these transactions would pay has not been defined.

On Wednesday, Dario Durigan, Executive Secretary of the Ministry of Finance, stressed that the institution was committed to reaching this goal. “We are going to deliver the taxation and regulation of crypto assets, yes, this is deserved,” he declared in a press conference.

This prompted a reaction from Deputy Aureo Ribeiro, who stated that he would oppose any attempts to impose a tax on stablecoins and other cryptocurrencies. He declared:

I am totally against it. I would not tax any stablecoin, neither those pegged to the dollar nor those pegged to the real.

Ribeiro highlighted that, if approved, this measure would harm the Brazilian people. “If I am able to use a cryptocurrency abroad, which I will not be taxed, a digital asset abroad, why am I going to use the Brazilian one? I’ll keep using it off,” he argued.

“They are listening to the wrong people. I think the government never comes well advised, it doesn’t understand the subject,” he concluded.

Passing these measures to tax stablecoins and cryptocurrency flows as foreign currency would affect the adoption that has been growing in Brazil, pushing users to foreign or obscure platforms not subject to national regulation.

Aureo stated that, besides changing how Brazilians use stablecoins, it will also disincentivize investments and push crypto capital out of the country.

Read more: Brazil Issues New Crypto Regulations, Tightens Controls on Stablecoins Transactions and VASPs

Stablecoin flows reached over $30 billion during the first half of 2025, according to official numbers. If the measure is finally approved, the upcoming flows would have to be taxed.

Giving stablecoins the same tax considerations as foreign currency will likely harm adoption, but will also serve to measure the real allure of stablecoins, leveling the playing field with fiat currencies like the U.S. dollar.

• What is the proposal regarding stablecoins in Brazil?
  The Brazilian Ministry of Finance is preparing a proposal to tax stablecoin flows as remittances, causing discord within the government.

• What are the main points of contention?
  Some members of Congress oppose the taxation measure, arguing that it could harm the adoption and use of stablecoins in Brazil.

• What did Dario Durigan, Executive Secretary of the Ministry of Finance, state?
  Durigan emphasized the government’s commitment to regulating and taxing crypto assets, labeling it as necessary for the economy.

• How might this tax proposal affect cryptocurrency use in Brazil?
  Taxing stablecoins could drive users to foreign platforms and discourage local investment, potentially leading to a reduction in crypto adoption.

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