According to Valor Econômico, the Brazilian crypto industry association ABcripto has explicitly opposed applying the financial transaction tax (IOF) to stablecoins. The new president stated that if the government decides to tax stablecoins through an executive decree, the association, representing crypto industry companies, will take legal action in response. ABcripto pointed out that IOF is essentially related to currency exchange (forex transactions), and stablecoins are not equivalent to traditional forex transactions, making the application of IOF to them unreasonable. The association believes this move could negatively impact the development of Brazil's crypto industry, financial innovation, and the operations of related companies. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=55042