In the registry corresponding to September, it was reported that there were almost one and a half million people, which, compared to the first half of the year, is almost twice as many users.
Brazilian Secretariat of Federal Revenue reported that, in September, about 1.5 million people in that country invested in cryptocurrencies. Specifically, it was 1.49 million citizens who declared having some digital asset.
The figure meant 10% more than the record corresponding to the previous month, where a number of 1.3 million Brazilians was reached. The figure represents a jump of almost twice as many people registered at the end of the first half of the year (794,981 users back then).
Numbers Analyzed
As for September 2021, the result for the ninth month of this year was even more representative. According to the authority, in the same month last year, only 424,524 account statements were received in cryptocurrencies.
The Secretary of Federal Revenue pointed out that although the number of crypto declarations in the country grew, the number did experience a drop in the month in question. Thus, September 2022 closed with a cryptocurrency holding value of 1.7 billion dollars, while in August this year the value had consolidated at 1.8 billion dollars.
Another curious aspect of the report has to do with the rise of corporate investors. Thanks to the increase in companies with investments in digital currencies, Brazil went from having 11,797 corporate investors in June to 14,255 by the end of September.
Preferred Cryptocurrencies
Bitcoin remains the most traded cryptocurrency in the system, but Tether’s USDT, the dollar-pegged stablecoin, is the one with the highest volume of funds traded.
The most popular stablecoin reached 25.9 million reais, equivalent to more than 5 billion dollars. Bitcoin (BTC) was in second place, with purchases of more than 4.5 billion reais (or $872 billion).
Further back on the list were the stablecoin USD Coin (USDC) with 1.7 billion reais, Ethereum (ETH) with 1.6 billion reais, and the Brazilian local indexed digital token (BRZ) with 1.5 billion reais.
Days ago, the possibility of creating a new superintendence, dedicated exclusively to issues related to the regulation of the crypto market, was announced by Brazilian Securities Regulator (CVM) president, João Pedro Nascimento. Understanding that 2023 will be a decisive year for crypto regulations worldwide, the top official has already announced that the procedures have begun to search for new personnel specialized in digital assets.
Added to this panorama is the uncertainty regarding the position of the elected president Luis Inácio Lula Da Silva. Nascimento explained that he hopes to start early talks with the new president. The idea is to start a dialogue with the new economic team after its inauguration, to continue what was worked on under the Bolsonaro administration.
By Audy Castaneda
