Brazil’s incoming finance minister has shelved a planned public consultation on cryptocurrency taxation, deferring a key regulatory question about how crypto transactions will be taxed until at least after October’s presidential election.
The decision leaves the fiscal treatment of cryptocurrency movements undefined for the world’s fifth-largest crypto market by adoption.
Dario Durigan, 41, took office March 14 after predecessor Fernando Haddad stepped down to run for São Paulo governor.
According to two sources who spoke with Reuters, Durigan intends to conserve political capital in Congress by sidelining divisive fiscal proposals ahead of President Luiz Inácio Lula da Silva’s October reelection bid.
