Tether freezes $213m linked to Gurhan Kiziloz in Brazil tax dispute over gambling, crypto sales
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Tether freezes $213M in USDT linked to Gurhan Kiziloz following Brazilian court ruling.
Summary
- Tether froze $213M in USDT tied to Gurhan Kiziloz after a Brazilian court ruling over gambling and crypto tax disputes.
- Brazilian authorities froze $213M in USDT linked to Gurhan Kiziloz amid an ongoing civil tax dispute over gambling operations.
- Tether blocked $213M across 48 wallets tied to Gurhan Kiziloz following a Brazilian court order tied to tax claims.
Tether has frozen more than $213 million linked to Gurhan Kiziloz and 48 USDT accounts associated with his company following a Brazilian court ruling tied to gambling operations and cryptocurrency token sales conducted between 2021 and 2024.
According to reports surrounding the case, Brazilian authorities alleged that the company operated gambling-related services targeting Brazilian users without holding a local license during that period.
Regulators also claimed that cryptocurrency token sales connected to the business generated taxable revenue inside Brazil before the country finalized its modern regulatory framework for online gambling and digital asset oversight.
The case reportedly centers on unpaid taxes linked to those operations. Authorities argued that despite the absence of a finalized licensing structure at the time, the gambling activity and token-related revenue still fell within Brazil’s taxable jurisdiction.
Brazil has significantly expanded regulation of both online gambling and cryptocurrency activity over the past several years. Before the introduction of the country’s updated framework, many offshore operators and crypto-related businesses continued serving Brazilian customers through international structures during what was widely viewed as a regulatory gray area.
According to reports, Kiziloz and his legal team are appealing against the government’s tax claims tied to the 2021–2024 period.
The enforcement action is being viewed as one of the larger crypto-related freezes connected to gambling and digital asset taxation in Brazil in recent years. It also reflects growing cooperation between regulators, courts, and centralized stablecoin issuers in financial enforcement matters involving digital assets.
Brazil continues tightening oversight around offshore gambling operations, crypto transactions, and token-related revenue streams as regulators expand efforts to formalize both industries under clearer licensing and tax structures.
However, no criminal charges have been filed, and the matter remains a civil tax dispute between Gurhan Kiziloz and Brazilian authorities. We reached out to Gurhan Kiziloz for comment regarding the ruling and frozen funds, but have not received any comment so far.
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