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 record increase in the number of these institutions declaring ownership of some kind of cryptocurrency. The numbers, that correspond to August’s statements, show that more than 12,000 companies in Brazil acknowledge holding crypto as part of their treasury.
This indicator rose from the number of companies that declared having crypto in July (11,360). However, the statements of individuals did register a slowdown when...
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