Record Number of Brazilian Companies Holding Crypto – Bitcoin and Tether Lead Adoption
Source: AdobeStock / Yasir Design The number of companies in Brazil holding cryptoassets hit an all-time high in August, with bitcoin (BTC) and tether (USDT) standing at the top of the adoption list. Per the local media, Receita Federal do Brasil (RFB), or the Federal Revenue of Brazil , which is the country&rsquo ;s tax authority , recorded 12,053 organizations that declared cryptoassets on their balance sheets in August this year. In July, there were 11,360 companies recorded, making this a 6.1% rise in August. Furthermore, the highest previously recorded number (provided in the report) was 11,797 seen in June – which means that August saw a 2.2% increase in the number of these organizations since then. Furthermore, the taxation authority stated that the most popular cryptoassets held by institutions are BTC and the stablecoin USDT. USDT saw the most value transacted, with over R$7.4 billion ($1.43 million) moved in August. It also saw 80,000...