Brazil has scrapped a long-standing tax exemption on cryptocurrency gains, with a new provisional measure (MP 1303), imposing a 17.5% tax on all crypto profits for individuals.
Previously, individuals selling up to R$35,000 (around $6,300) worth of crypto per month were exempt from taxation. Before the change, gains above that were taxed progressively, reaching as high as 22.5% for volumes over $5.4 million.
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