Brazil Registers Record Number of Institutions Declaring Cryptocurrency Holdings
Brazil registered its highest number of companies and institutions declaring ownership of cryptocurrencies in August. The numbers, which come directly from the Brazilian Tax Authority (RFB), show that more and more institutions are eager to purchase cryptocurrency, and also indicate that the most significant volumes are moved using Tether’s stablecoin usdt. Institutions Are Holding More Crypto in Brazil Institutions are attracted to holding crypto in Latam countries due to their economies’ specific problems. Recently, the Brazilian Tax Authority (RFB) registered a....
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August figures released by Brazil's tax authority revealed over 12,000 companies have cryptocurrency holdings, the largest amount ever recorded. The number of companies holding cryptocurrency in Brazil has reached new record highs as of August, amid an increased trust in cryptocurrencies and high inflation rates.According to local media reports, the country’s taxation authority, Receita Federal do Brasil (RFB), also known as the Federal Revenue of Brazil, recorded 12,053 unique organizations declaring crypto on their balance sheets in August 2022.The number is a 6.1% increase from the....
The Brazilian Tax Authority RFB registered a new record in the number of Brazilians that invested in crypto, in the month of September. The institution informed through its monthly reports that almost 1.5 million people had purchased crypto during Sept. The number of crypto investors in Brazil increased since August when a little more than 1.3 million people declared holding crypto.
Brazilian Tax Authority Registers Almost 1.5 Million Crypto Investors in September
Cryptocurrency is gaining popularity as an investment choice for portfolios in Latam. The Brazilian Tax Authority RFB....
The Brazilian tax authority (RFB) has revealed its numbers corresponding to the month of July regarding cryptocurrency statements. More than one million Brazilians have declared cryptocurrencies in the month, which constitutes a record in statements for the organization. Also, there was a rise in the number of women holding crypto for this period.
Tax Authority Reports More Than a Million Brazilians Invest in Crypto
The Brazilian tax authority (RBF) has reported that more than one million citizens presented their cryptocurrency statements in July. Specifically, 1,336,715 citizens....
Crypto is becoming mainstream in Brazil, with 7.8% of the country’s population (about 16 million people) owning cryptocurrency. As a result, exchanges such as Binance, Crypto.com, and Coinbase are soaring in Brazil. Brazil is becoming the primary crypto market of Latin America as records show over 12,000 Brazilian companies have crypto holdings. Brazilian Tax authority released August figures showing the highest number of holdings ever recorded. In addition, amid high inflation rates in the country, cryptocurrencies saw increased adoption in August. Related Reading: LUNC Community Clamors....
With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn More Brazilians to Cryptocurrency Mining The ongoing coronavirus pandemic has taken a heavy toll on Brazil and the country ranks among the hardest hit, with over 450,000 deaths due to Covid-19. South America’s largest economy shrank by....