Brazil’s New 17.5% Crypto Tax Creates a Direct Conflict with Its Pro-Bitcoin Ambitions

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Brazil imposes a 17.5% flat tax on all crypto capital gains, ending previous exemptions. New rules apply to self-custodied and offshore crypto, with quarterly tax reporting. Lawmakers propose Bitcoin reserves and crypto-based payroll for foreign workers. Brazil has eliminated its long-standing tax break on cryptocurrency profits, introducing a flat 17.5% capital gains tax on all digital asset transactions. The measure, enacted through Provisional Measure 1303, took effect on June 12 and marks a ...