Brazilian tax authority data shows that stablecoins account for 90% of Brazil's cryptocurrency trading volume.
Jinse Finance reported that during a technical presentation at the Brazil Blockchain Conference, Flávio Corrêa Prado, an auditor from the Brazilian Federal Revenue Service, revealed that the volume of cryptocurrency transactions reported under current regulations has reached 6 to 8 billion USD per month. He stated that if the current trend continues, this figure could rise to 9 billion USD per month by 2030. Most of this trading volume comes from stablecoins such as USDT and USDC, and in certain months, stablecoin trading volume even accounts for 90% of all reported transactions. Bitcoin once dominated, but as the country's acceptance of stablecoins has increased, Bitcoin has become a secondary player.
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