Brazil's new Finance Minister, Dario Durigan, has postponed the public consultation on imposing a financial operations tax (IOF) on cryptocurrency transactions. The proposal aimed to classify certain crypto transactions as foreign exchange operations, with tax rates potentially reaching up to 3.5%. However, the discussion has been delayed due to opposition from industry groups and to avoid conflicts with Congress during an election year. Industry experts have raised legal concerns about categorizing stablecoins as foreign exchange instruments.