Brazil’s Crypto Tax Grab Signals What’s Coming Next
Opinion by: Robin Singh, CEO of Koinly
Crypto may be the first tax lever governments pull when scrambling for more revenue, if Brazil’s recent move is anything to go by.
In June, Brazil scrapped its tax exemption for minor crypto gains and introduced a flat 17.5% tax on all capital gains from digital assets, regardless of the amount. The decision was part of a broader effort by the Brazilian government to bolster revenue through increased taxation of financial markets.
This is more than a local tax tweak. A clear pattern is emerging where governments are finding ways to extract more tax from the asset class. Around the world, policymakers are taking a fresh look at crypto as a revenue opportunity.
