Brazil Plans Crypto Tax Crackdown on Cross-Border Payments to Close Loophole: Report
Brazil is considering a new tax on the use of cryptocurrencies for international payments, a move that could reshape how the country’s fast-growing digital asset sector handles cross-border transfers.
According to officials familiar with ongoing discussions, the government is reviewing whether its financial transaction tax, known as the IOF, should apply to certain crypto operations that the central bank recently reclassified as foreign-exchange transactions.
The proposal follows a Reuters report citing two officials who said the Finance Ministry is examining how to extend the IOF to transfers involving virtual assets and stablecoins.
These assets were formally defined as forex instruments under new central bank rules…
