Brazil is set to introduce a new bill proposing changes to the taxation of cryptocurrencies. Currently, cryptocurrencies in Brazil are taxed as goods, but the new bill aims to categorize them as shares and capital instruments with fluctuating exchange rates. Under the proposed scheme, crypto investors would have to pay 15% of their cryptocurrency income. This tax would apply to transactions over 35,000 reais (around $7,000) made on registered platforms. The bill is expected to be presented to the National Congress in the coming days and, if passed, the new tax regime would be implemented in 2025. This development comes as the Brazilian government increases its oversight and monitoring of the crypto industry, with the detection of irregularities in over 25,000 cryptocurrency tax statements earlier this year.
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Brazil Eyes Crypto Taxation Changes in New Bill
