Brazilian Authorities Freeze $213M in USDT Linked to Gurhan Kiziloz

Brazilian authorities have taken significant action in a long-standing tax dispute with Gurhan Kiziloz, freezing $213 million in USDT linked to his company. The move follows a Brazilian court ruling that claims the company generated taxable revenue within Brazil's jurisdiction despite lacking a local license at the time.

The case centers on unpaid taxes related to gambling operations and cryptocurrency sales conducted between 2021 and 2024. Regulators argue that even though a finalized licensing structure did not exist during this period, the activity still fell within Brazil's taxable jurisdiction.