The Third Panel of the Superior Court of Justice (STJ) has established the understanding that cryptocurrencies can legitimately settle contractual obligations between private parties. In the ruling on Special Appeal No. 2,235,558—with Justice Nancy Andrighi serving as rapporteur—the panel determined that the volatility and price fluctuations of digital assets do not justify annulling transactions entered into by mutual agreement, freely and knowingly, by the parties involved.
The dispute arose from a lawsuit filed by a seller who accepted crypto-assets as payment and subsequently alleged fraud, citing the alleged overvaluation of the tokens at the time of the agreement and requesting the conversion of the amount into legal tender. The STJ upheld the decision of the Court of Justice of Santa Catarina (TJSC), noting that no fraud had occurred; rather, the contracting party had failed to exercise due caution by not assessing the risks associated with a market known to be unstable.
The rapporteur highlighted that, although virtual assets do not constitute legal tender in Brazil, their use as a digital representation of value is supported by the Legal Framework for Crypto-assets (Law No. 14.478/2022).
Thus, by agreeing to payment in digital assets, the parties exercise their freedom of contract and assume the risks of market fluctuations, precluding any subsequent revision or cancellation of the valid contract.
Ramon Barbosa Tristão | ramon.barbosa@nascimentomourao.adv.br
Partner in the Corporate Advisory Law Practice and Member of the Diversity and Inclusion Committee at Nascimento e Mourão.
