The Brazilian tax authorities will begin collecting information from foreign cryptocurrency exchanges to ensure their compliance with local regulations

2024-06-19 08:25:18

Collection

ChainCatcher news, according to CryptoSlate, the Brazilian Federal Revenue's special department will begin collecting information from foreign cryptocurrency exchanges to ensure compliance with local regulations.

Deputy Secretary of Inspection Andrea Chaves stated that the tax department is concerned about the operations of these exchanges in Brazil and will collect taxable information. A regulation to summon foreign exchanges is expected to be released before the weekend.

It is reported that the total amount of cryptocurrency declared in Brazil reached 133.6 billion reais (approximately 24.6 billion USD) in the first half of 2023, a 36.6% increase compared to the first half of 2022. Among this, 14.5 billion reais (approximately 2.7 billion USD) came from foreign exchanges.

Data from Kaiko Research shows that from the beginning of 2024 to early May, the cryptocurrency trading volume involving the Brazilian real reached 6 billion USD, a year-on-year increase of 30%.

(Source Link)

Related tags

Brazil cryptocurrency exchange taxation

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.