Brazil Debates 17.5% Crypto Tax; Argentina Libra Probe Unveils $500k Transfer, Regulatory Hurdles
Brazilian lawmakers are poised to debate a contentious cryptocurrency tax reform proposed by President Luiz Inácio Lula da Silva, which has drawn sharp criticism from industry stakeholders. The Provisional Measure, enacted in June, eliminates exemptions for small-scale crypto trading and imposes a flat 17.5% tax on all transactions, a significant shift from the previous threshold of 35,000 reais ($6,320). The measure must be approved by October 8 to remain valid, with a congressional hearing scheduled for August 6. Critics argue the policy could suppress innovation and drive crypto activity underground, while proponents stress the need to close perceived tax loopholes [1].
Meanwhile, a renewed investigation into Argentina’s…
