Tax on Brazilian Citizens Income from International Exchanges

Brazilian Senate Approves Tax on Cryptocurrency Earnings

The Senate of Brazil has approved new income tax regulations. Now, Brazilian citizens will be required to pay a 15% tax on income from cryptocurrency transactions on international exchanges.

Brazilian citizens earning more than $1,200 from international exchanges and investment funds will be required to pay this tax. It is worth noting that Brazil currently has $100 million in assets for managing Bitcoin ETFs