Stablecoin Taxation Measures Spark Heated Debate in Brazil
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,…
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Brazilian Government Mulls Taxing Stablecoins Remittances as Foreign Currency Flows
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…
Brazilian Tax Agency Tightens Crypto-Reporting Rules, Targeting Foreign Exchanges and DeFi
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…
Draft Law Accuses Central Bank of Brazil of ‘Overreaching’ With Stablecoin Rules
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…
Brazil Issues New Crypto Regulations, Tightens Controls on Stablecoins Transactions and VASPs
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…
Central Bank of Brazil Clarifies Drex CBDC Project’s Future: Digital Real Still the ‘Ultimate Goal’
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…
Brazil to Tighten Crypto Rules, Attacking the ‘Financial Arm’ of Organized Crime
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…
Central Bank of Brazil Postpones CBDC Strategy, Shuts Down Current Pilot Platform
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…
OKX Launches Stablecoin Payments and Mastercard Debit Card in Brazil
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…
Brazilian Bitcoin Company OranjeBTC Repurchases Shares Amid Stock Slump
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…
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