Brazilian Appeal Court Sides with Gurhan Kiziloz in Crypto Tax Dispute

A Brazilian appeal court has sided with Gurhan Kiziloz in his effort to unfreeze $527 million in Tether and other assets tied to a tax dispute. The ruling, while not a final release, is seen as a significant win for the crypto executive.

The freeze on the assets was deemed too broad by the court, which has sent it back for further examination. This decision shifts the case in Kiziloz's favor and opens up a clear path for the assets to be released by October 2026.

The key factor in this ruling is that the court will separate assets with direct links to Brazilian activity from those tied to independent companies or generated outside the country. This distinction allows Kiziloz's team to argue that assets held before Brazil implemented its modern betting and crypto rules should not be subject to the freeze.

The total amount in question includes $213 million in USDT, as well as cryptocurrency, company interests, financial accounts, and property across several countries. The court's decision will have far-reaching implications for both Kiziloz and the wider crypto industry.