In recent years, the use of cryptoactives has grown dramatically, and the IRS is closely monitoring this trend. Specifically, stablecoins, or stable currencies, have gained prominence. Unlike other cryptoassets, they maintain parity with fiat currencies, baskets of currencies or other assets, making them more stable in value and expanding their use as a means of payment.
## The Growth of Stablecoins
Federal Revenue surveys, carried out monthly since 2019, indicate significant growth in the use of stablecoins. In Brazil, the most traded are Tether (USDT) and USD Coin (USDC), both with parity with the US dollar, in addition to BRZ, which has its parity linked to the Brazilian real.
Tether stands out on the global stage, being traded at an accumulated level of more than R$271 billion, almost double the volume of Bitcoin in the same period, which was more than R$151 billion.
## Change in the Transaction Profile
Analysis of public data reveals a significant change in the profile of transactions involving cryptocurrencies in recent years. The trading of Bitcoin and other cryptocurrencies has been largely overtaken by the movement of stablecoins such as Tether.
This change deserves attention, as it could have significant implications for the tax and regulatory scenario for cryptocurrencies in the country.
## The International Monetary Fund's Warning
In a recent article published on its blog, the International Monetary Fund (IMF) warned that stablecoins could "replace national currencies and impact countries' fiscal and monetary policies, especially in developing economies."
## Federal Revenue Tools
To monitor and inspect cryptoactive activities, the Federal Revenue uses a complete analysis system. This system is capable of detecting suspicious transactions, handling large volumes of data and information.
Through these tools, the IRS can track where negotiations are taking place, including the locations of individuals who buy and sell cryptocurrencies.
The Federal Revenue system makes use of advanced data processing techniques, artificial intelligence and complex network analysis. Recently, this tool was improved to represent relationships between operators, facilitating the detection of tax irregularities.
## Conclusion
The dizzying growth of stablecoins draws the attention of the Federal Revenue Service and the IMF, which warns of the possible implications on the global economic scenario. As these stable currencies gain ground, it is essential that tax and regulatory authorities are prepared to deal with this new scenario.
### FAQs
1. What are stablecoins?
Stablecoins are cryptoassets that maintain parity with fiat currencies or other assets, making them more stable in value.
2. How does the IRS monitor cryptoactive transactions?
The IRS uses an advanced analysis system that tracks suspicious transactions and locates cryptoactive operators.
3. What is the most traded stablecoin in Brazil?
The most traded stablecoins in Brazil are Tether (USDT) and USD Coin (USDC).
4. What is the IMF's concern regarding stablecoins?
The IMF warns that stablecoins could replace national currencies and impact countries' fiscal and monetary policies.
5. How could stablecoins affect the tax and regulatory landscape for cryptocurrencies?
The growth of stablecoins could have significant implications for the tax and regulatory landscape of cryptocurrencies, requiring authorities to adapt to deal with this change.