ChainCatcher news, according to the new income tax rules passed by the Brazilian Senate on November 29, citizens may soon be required to pay up to 15% tax on income from cryptocurrency holdings in foreign exchanges.According to the bill, starting from January 1, 2024, any citizen earning more than $1,200 (6,000 Brazilian Reais) from exchanges outside Brazil will be taxed; income earned before December 31 of this year will continue to be taxed at the current rate of 8%. The bill will also affect "exclusive funds"—that is, investment funds with a single shareholder, as well as foreign companies active in the Brazilian financial market. The government hopes to raise $4 billion (20.3 billion Brazilian Reais) through this measure in 2024.Currently, the bill has passed in the House of Representatives and is expected to be approved by President Luiz Inácio Lula da Silva.

According to ChainCatcher, as reported by Cointelegraph, U.S. President Biden has proposed a phased 30% tax on the electricity costs of cryptocurrency mining in his administration's budget for the fiscal year 2024. The U.S. Department of the Treasury released a supplemental budget explanatory document on March 9, stating that any company using resources (whether owned or leased) will "pay a consumption tax equal to 30% of the electricity costs used for digital asset mining."The document suggests that the tax will be implemented for tax years after December 31, 2023, and will be phased in over three years at a rate of 10% per year, reaching a maximum of 30% by the third year. Crypto miners will be required to report "the amount and type of electricity used and the value of that electricity." Cryptocurrency miners who obtain off-grid power will still need to pay taxes and will need to estimate the electricity costs generated by any "power plants." (source link)