Brazil Moves to Close Stablecoin Tax Loopholes

[tradelikepro]

Crypto assets are currently exempt from Brazil’s IOF tax, creating what officials call a regulatory loophole for using stablecoins as an untaxed cross-border payment rail.
Brazil is now pushing new rules that classify some stablecoin and crypto-wallet transactions as foreign exchange operations, extending consumer protection and AML requirements to crypto intermediaries. Judges were also authorized earlier this year to seize crypto assets from debtors.

[JanEmil]

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