Brazil will hold a presidential election on October 4. The outcome between incumbent President Lula and Senator Flávio Bolsonaro could affect the country’s subsequent cryptocurrency regulatory policies. Chainalysis’ 2026 Global Crypto Adoption Index ranks Brazil as the world’s top country for crypto adoption, with the crypto economy size at approximately $252.5 billion. During Lula’s term, Brazil continued to strengthen reporting requirements for crypto transactions and regulation of virtual asset service providers. Previously, the government’s planned proposals for cryptocurrency and stablecoin tax policies were put on hold before the election. Flávio Bolsonaro has not yet put forward a clear crypto policy. The latest polls show the two candidates are running neck and neck, and the election is likely to go to a second round on October 25. (Bitcoin com)