Brazil Adopts OECD Crypto Reporting as Government Weighs IOF on Stablecoin Deals

Overview

• The Federal Revenue Service issued Normative Instruction 2.29 to align Brazil with the OECD’s Crypto‑Asset Reporting Framework for automatic cross‑border data exchange, stating the update does not alter taxation.
• The new DeCripto declaration will replace the current reporting model on July 1, 2026 through the e‑CAC portal, while the existing regime remains in force until June 30, 2026.
• Foreign crypto service providers that reach Brazilian users must report to the tax authority and from January 2026 apply CARF‑style KYC/AML procedures.
• From February 2026, Central Bank rules classify stablecoin transactions and certain cross‑border crypto transfers as foreign‑exchange operations, and Reuters reports the Finance Ministry is studying IOF taxation.
• Domestic exchanges continue monthly reporting, users transacting outside Brazilian platforms must report only above R$35,000 per month, and the scope explicitly includes DeFi activities such as airdrops, staking and lending.