Coinbase calls for stablecoin framework and highlights 29 million crypto voters

Coinbase, one of the world’s largest cryptocurrency exchanges, published a strategic position this week on stablecoin regulation in Brazil, with an eye on the 2026 election debate. The company asks that the next government keep stablecoins under the current legal framework for virtual assets, without imposing the IOF tax, and points out that around 29 million Brazilians already own or have owned crypto assets—equivalent to one sixth of the adult population.

Stablecoins and regulation: what’s at stake

Stablecoins—cryptocurrencies pegged to fiat currencies like the dollar or the real—have been gaining ground in the Brazilian market, both for payments and for international transfers and wealth protection. Currently, they are regulated under the virtual assets framework, approved in 2022, which gives the Central Bank supervisory authority and the Federal Revenue Service tax oversight.

However, there are ongoing discussions about the possibility of including stablecoins in stricter tax regimes, such as charging IOF (Tax on Financial Operations) on transactions involving these assets. According to Coinbase, such a change could hinder innovation, harm consumers, and drive companies away from the sector.

The weight of the crypto electorate in the 2026 elections

In its survey, Coinbase points out that 29 million Brazilians have already had some type of crypto asset, a number that represents about 1 in every 6 adults in the country. This group, according to the exchange, could influence political debate and regulatory decisions in the coming years, especially as the use of stablecoins grows as an alternative to the traditional banking system.

The massive presence of crypto asset investors and users suggests that topics such as regulation, taxation, and access to stablecoins could become prominent in the platforms of presidential and congressional candidates in 2026. Coinbase argues that by ensuring clear and fair rules, Brazil can establish itself as a reference in financial innovation in Latin America.

Coinbase’s position and market impacts

In the released document, Coinbase calls for stablecoins to remain under the current virtual assets framework, without the creation of additional taxes like the IOF. The company argues that this approach encourages competition, expands the population’s access to modern financial solutions, and helps include millions of Brazilians in the digital system.

In addition, the exchange warns that abrupt changes could create legal uncertainty and discourage investment in blockchain infrastructure and innovation. Coinbase’s position echoes concerns already expressed by other companies in the sector, who see Brazil as one of the most promising markets for stablecoins and DeFi in the region.

Expectations and next steps

With the election season approaching, expectations are that proposals for the crypto asset sector will gain space in public debates. Coinbase’s position could influence both Congress and regulatory agencies, pushing for an approach that favors sustainable growth of the stablecoin market.

The coming months should be decisive in determining whether Brazil will maintain an environment favorable to innovation or adopt more restrictive rules for the sector. Investors, companies, and users should closely follow the discussions and any changes to the regulatory framework.

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With information from BeInCrypto Brazil (September 2026).

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Alexandre Bianchi

Fundador da Bianchi Capital e do Zayion AI. ~10 anos no mercado de ativos digitais, autor de referência e presença na mídia.

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