This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil’s leading financial news publications. Follow CoinDesk Brasil on Twitter.
For the first time in a single month, more than 12,000 Brazilian companies made crypto purchases in August, the South American country’s tax authority, Receita Federal, has reported.
Receita Federal said that 12,053 companies declared crypto purchases in August, surpassing the previous record in June when 11,797 firms bought digital assets.
August figures are also five times higher than those of August 2019, when companies began reporting their crypto movements to the tax authority.
Receita Federal added that Brazilian companies collectively hold 10.9 billion Brazilian reals in crypto, equivalent to $2.1 billion.
This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.
Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas.
Please note that our
do not sell my personal information
has been updated
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
which invests in
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG