According to Bitcoin.com, the Brazilian Taxation Agency (RFB) released cryptocurrency report data related to July, and more than 1 million citizens reported cryptocurrency holdings and transactions, the highest number reported since the requirement was implemented in 2019. That figure rose to nearly 800,000 in June from just 365,000 in May, and jumped more than 50% to 1.337 million in July, with August figures not yet compiled. Additionally, the statistics also show that women became more active in the country using cryptocurrencies in July, growing by 4% and accounting for 20% of total transactions. Brazilian law mandates that all cryptocurrency holders must report their information to the Brazilian tax agency, even if the transaction is not made using a centralized exchange.