(BTC) Bitcoin News TodayCrypto AdoptionCryptocurrency RegulationNewsStablecoinTaxesTether (USDT)

Over 1.5M Invested In Crypto In September – Brazil’s Tax Authority

According to the Brazilian Tax Authority, the number of crypto investors in September has set a new record. Besides, crypto adoption in Brazil has been on the rise in 2022.

The agency’s monthly report noted that around 1.5 million Brazilians bought crypto in September. In August, over 1.3 million taxpayers declared their crypto holdings.

Since the start of 2022, crypto adoption has increased in Latin America. Several users have flocked to crypto as an investment opportunity. Meanwhile, the Brazilian Tax Authority (RFB) presented a report on crypto investments by taxpayers for September.

The latest report stated that September’s number of crypto investors had set a new record. According to the report, over 1.5 million Brazilians invested in digital currencies in September.


The 1,490,618 taxpayers represent an increase of over 10% compared to August. Interestingly, the growth is very high when compared to the figure in September 2021. This is because the number of taxpayers that declared their crypto holdings as of last year September was only 424,524.

The new figure shows that the number of crypto investors has tripled in the past twelve months. Moreover, this is an indicator of the increased crypto adoption in Brazil.

📰 Also read:  Grayscale's Legal Milestone: What is Next for Bitcoin Spot ETFs?

Although the number of users increased in September, the volume is smaller than in August. Furthermore, the report highlighted other achievements in September.

Women accounted for one out of every five crypto transactions for the first time in Brazil. Women are currently showing interest in financial assets such as cryptocurrencies.

Tether’s USDT Records Highest Volume 

Meanwhile, Bitcoin remains the top currency with the highest number of transactions. Moreover, the flagship currency has recorded the highest transactions in the past months.

Tether’s stablecoin, the USDT, stands out for the highest volume of negotiated funds. In September, users carried out over 2 million Bitcoin transactions.

The total number of transactions for the USDT was about 100,000. However, the dollar-pegged stablecoin, USDT, moved the highest volume of funds. According to the report, this is over seven times the amount of funds for Bitcoin.

The present report reveals that crypto adoption in Brazil has increased. Meanwhile, firms are rising to help residents use crypto. Several businesses have added support for crypto payments in Brazil.

📰 Also read:  US Judge Dismisses Class Action Lawsuit Against Uniswap

Smartpay, a crypto platform, said it would offer its users USDT services. Users can access the service at over 24,000 ATMs. This would make people view stablecoins as a viable saving and payment option. Also, Brazilians could exchange their USDT for the country’s fiat currency.

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  US Judge Dismisses Class Action Lawsuit Against Uniswap


Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Skip to content