Brazilian Crypto Purchases Plummet 80% Amid New Regulations
The Brazilian crypto market has experienced a significant decline in July, with crypto purchases plummeting to $572 million. This represents an 80% month-on-month drop compared to June's numbers, which reached $2.6 billion.
The Central Bank of Brazil attributed this sharp decline to the implementation of new anti-money laundering rules and governance requirements for digital assets in Brazil. Fernando Rocha, head of the central bank's statistics department, explained that this decline reflects a period of reorganization in the virtual asset market due to intensified regulation and supervision.
Despite the monthly slump, 2026 crypto volume has hit $15.25 billion, more than doubling last year's total. Stablecoins were the main target of these transactions, according to the bank.