The city of Belo Horizonte has officially been declared the “Bitcoin Capital” of Brazil. Law 11.905, enacted on October 2, establishes the municipality as a national hub for cryptocurrency activity, aiming to consolidate the city’s role in technology, finance, and education tied to Bitcoin.
Proposed by councilor Vile Santos (PL), the law seeks to attract investment, stimulate entrepreneurship, and promote innovation around cryptoassets, while positioning Belo Horizonte as a center for events, research, and debates on Bitcoin and blockchain. Importantly, officials clarified that the measure does not interfere with federal financial regulation but emphasizes education and awareness of global financial trends.
“The goal is to position Belo Horizonte as a reference point for study, debate, and development in the crypto sector,” Santos said, noting that fostering financial education and encouraging local projects can prepare the city for the economic transformations ahead.
Brazil’s crypto market is pumping up
The move comes as Brazil as a whole cements its place among the world’s leading crypto markets. A recent report by Chainalysis revealed that crypto transactions in the country reached R$1.7 trillion (US$318.8 billion) between July 2024 and June 2025—a 109% increase year-over-year.
Stablecoins accounted for more than 90% of the volume, reflecting their widespread use for payments and remittances in Brazil. Unlike speculative crypto activity, these flows suggest digital assets are becoming integrated into everyday financial routines.
Belo Horizonte’s new title reflects not just a symbolic gesture but part of a nationwide trend. With Brazil now ranked as the fifth-largest crypto market globally, cities like Belo Horizonte are aligning with a growing demand for local hubs that combine education, infrastructure, and regulatory readiness.
The surge also heightens regulatory concerns. Brazil’s Central Bank plans new rules in 2025 with stablecoins at the core, as adoption grows and oversight becomes crucial.
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