TechFlow news, according to data from Brazil's federal tax authority, Receita Federal, the use of USDT in the country has increased significantly, with its trading volume far surpassing all other cryptocurrencies combined.
To date, 80% of cryptocurrency transactions are related to USDT, amounting to over 271 billion Brazilian reais (approximately $54 billion), double the trading volume of Bitcoin (around $30 billion).
Receita Federal stated that the substantial increase in USDT usage could have significant implications for digital asset taxation and regulatory frameworks, potentially leading to additional legislation targeting the digital asset industry.
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