Brazil Eyes IOF on Crypto as Opposition Moves to Block It

Overview

• Finance Ministry secretary Dario Durigan said the economic team will advance IOF taxation on crypto transactions following the sector’s formal regulation by the Central Bank.
• Deputy Aureo Ribeiro vowed to vote against any IOF on stablecoins, warning the levy would drive capital overseas and push trading to unregulated foreign platforms.
• Opposition leaders are preparing a Projeto de Decreto Legislativo to overturn any Receita Federal instruction that imposes IOF and are consulting the Central Bank and the tax authority on the plans.
• Senator Jorge Seif cautioned that heavy taxation would squander an economic opportunity for Brazil’s crypto industry.
• Industry group ABCripto says an IOF debate is likely in 2026 as BC rules placing stablecoin flows in the FX market take effect in February, after a prior 17.5% income‑tax proposal failed in the Chamber.