Brazilian crypto and fintech industry associations ABcripto, ABFintechs, Abracam, ABToken, and Zetta have issued a joint statement opposing the extension of the financial transaction tax (IOF) to stablecoin transactions. These organizations, representing over 850 companies in Brazil, believe this move could violate the Brazilian Constitution and the Virtual Asset Law (Law No. 14,478) passed in 2022. Data shows that Brazil's monthly crypto market trading volume is approximately $6 billion to $8 billion, with around 90% of it being stablecoin transactions. (CoinDesk) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=58118