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Rumors of taxing stablecoin flows in Brazil have sparked a debate between some lawmakers and the Ministry of Finance. While the ministry is preparing a normative act on the subject, lawmakers say they will oppose any such proposal. Faceoff: Stablecoin Taxation Stirs Discussion In Brazil The Facts An upcoming proposal that aims to tax stablecoin … Read more
The Brazilian government would be considering taxing stablecoin flows, applying the known Tax on Financial Operations (IOF) on remittances and international payments using these instruments. The news comes as the Central Bank of Brazil will start treating these as foreign currency starting in February. Report: Brazil Mulls Applying Taxes to International Stablecoin Flows The Facts … Read more
The Brazilian Federal Revenue Service has revised the rules for tax declarations on crypto assets. The new rules require foreign exchanges to report transactions to the agency and mandate that DeFi operations be disclosed. New Brazilian Tax Rules Target Foreign Exchanges, DeFi Activities The Facts The Brazilian Tax Agency (Receita Federal) has published new rules … Read more
A draft introduced in the Brazilian Congress seeks to void the recently issued stablecoin rules, arguing they represent regulatory overreach by the central bank. The proposal also accuses the bank of effectively creating new taxes by classifying stablecoin movements as equivalent to foreign-currency transactions. New Draft Law States Brazil’s Central Bank Exceeded Its Authority With … Read more
The Central Bank of Brazil has finalized rules governing virtual asset service providers (VASPs) and stablecoin transactions, focusing on financial stability and reducing their use for illicit purposes, according to regulatory director Gilneu Vivan. Central Bank Issues Key Regulation for VASPs and Stablecoin Transactions in Brazil The Central Bank of Brazil has, at last, finalized … Read more
The Central Bank of Brazil said the recent pause in using blockchain for drex, its central bank digital currency project, is temporary. The bank intends to continue using decentralized technology in the future, including issuing its own currency for tokenization-linked settlements. Central Bank of Brazil: Drex CBDC Project Still Alive The Facts The Central Bank … Read more
Fernando Haddad, Brazil’s Minister of Finance, said it is preparing a regulatory overhaul to attack the use of cryptocurrency to finance organized crime. This overhaul includes tougher rules on crypto usage and the revamp of the CVM, the Brazilian equivalent of the SEC. Brazil Aims To Tighten Crypto Controls To Tackle Organized Crime Financing The … Read more
The Central Bank of Brazil announced it would discontinue the platform used to run drex, the Brazilian CBDC initiative, during its first two phases. Fabio Araujo, the project’s coordinator, stated that drex would pivot to a platform to facilitate the use of assets as collateral. Central Bank of Brazil Winds Down Drex CBDC Platform, Pivots … Read more
OKX rolls out OKX Pay and OKX Card in Brazil to offer USD stablecoin access, up to 10% APY, and no IOF tax on international spending. OKX announces in São Paulo the launch of OKX Pay and OKX Card in Brazil, enabling instant PIX‑linked conversion of reais to USD‑denominated stablecoins, domestic and cross‑border stablecoin transfers, … Read more
The company, Brazil’s largest of its kind, repurchased nearly 100,000 ordinary shares between Oct. 27 and 30 as net asset value (NAV) fell below 1. OranjeBTC said the move “represents an efficient way to increase shareholder exposure to bitcoin.” OranjeBTC Repurchases Stock Amid Price Slump The Facts OranjeBTC, the largest Brazilian bitcoin treasury company ( … Read more
