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Number of Brazilian Companies Transacting With Digital Assets Increased Again in October
More than 41,000 firms conducted some form of operation with crypto assets, according to the local tax authority, Receita Federal.
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 41,000 Brazilian companies made transactions with digital assets, the South American country's tax authority Receita Federal has reported.
STORY CONTINUES BELOW
According to the report, 41,817 companies in Brazil declared operations made with digital assets in October, up from 40,161 firms in September and 37,741 in August.
Brazilian companies began reporting transactions with crypto to the government in August 2019 after the passage of a new law that year.
Read more: Brazilian Chamber of Deputies Approves Bill Regulating Crypto Transactions
This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.
Paulo Alves
Paulo Alves is a crypto editor at InfoMoney, a leading financial news publication in Brazil. His work has been featured in CNN Brazil, TechTudo and BeInCrypto Brazil, among other media. He graduated in Journalism from University of Amazon and holds a Digital Communications degree from University of São Paulo.
