The Brazilian Cryptocurrency Industry Association ABcripto recently issued a strong statement. The new president openly stated that the association firmly opposes the government's imposition of a financial transaction tax (IOF) on stablecoins.

This is not just talk. If the government bypasses legislative procedures and enforces taxes on stablecoins through administrative decrees, ABcripto is prepared to fight back in court. As an organization representing the interests of the entire crypto industry, they have made it clear they will not stand idly by.

The logic behind this is clear: ABcripto believes that the IOF tax mechanism should not apply to stablecoin transactions. This concerns the fundamental interests of the industry ecosystem—since stablecoins are an important part of Web3 financial infrastructure, excessively high transaction costs would directly reduce market activity.

From Brazil's perspective, the crypto industry has already become a significant participant in the economy. This tax policy showdown actually reflects a power struggle between traditional regulatory authorities and emerging industries. ABcripto's strong response indicates that crypto companies are gaining more influence in policy-making.