How the current government has negatively impacted cryptocurrencies (Part 2)
The CVM and Central Bank imposed regulatory limitations in the sandbox, restricting the development of tokenizations and innovative fintechs.
Decree No. 11,563/2023 established the Central Bank as the normative authority of the regulatory framework for cryptocurrencies, discouraging decentralized and more autonomous initiatives in the sector.
Schematic Summary
Impact Area Measure/Government Negative Consequence
Taxation MP 1,303/2025 (17.5% fixed) Lower exemption, increase in tax burden
Legal insecurity Lack of clarity and overlap of rules Decrease in investor interest (–30%)
Supervision IN RFB and program “Safe Brazil” More control, less privacy
Extra taxes Taxation on remittances and assets abroad Complexity and increased costs
Regulatory centralization Central Bank and CVM as normative authority Limits innovation and decentralization
Government actions — especially in tax structure, supervision, and regulatory centralization — have pressured the crypto market in Brazil. The result is a more burdensome, bureaucratic environment that is less favorable to technological and financial innovation.
