Brazil Sees Record Registrations With Companies Holding Crypto 

More Brazilian companies are adopting cryptocurrencies as the country registered the highest number of institutional crypto ownership in August.

The Brazilian Tax Authority reported that it registered more than 12,000 companies in the country that declared they owned cryptocurrency on their balance sheet. This is an increase from the 11,360 companies that declared in July.

However, the number of individuals that declared cryptocurrency assets in the same month declined by 35,000. But with more than 1.3 million people registering, the number is high, and adoption levels are still very high.

The numbers come from the mandatory monthly report from the RFB on the ownership of cryptocurrencies which gives an idea of the market direction.

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