‼️🚨 BRAZIL HARDENS THE TAX DECLARATION ON CRYPTOCURRENCIES IN FOREIGN EXCHANGES ‼️🚨
Brazil has significantly expanded its cryptocurrency declaration requirements, requiring foreign exchanges and decentralized finance platforms to disclose transactions involving Brazilian clients to tax authorities, a measure that positions the South American nation at the forefront of cryptocurrency regulation, while potentially pushing users towards harder-to-monitor platforms.
The Federal Revenue announced the revised regulations this week, requiring both individuals and organizations to declare cryptocurrency transactions that exceed R$33,400 (approximately $6,560) per month, including activities on centralized and decentralized platforms, such as staking, airdrops, and transfers of stablecoins. The rules, which come into effect in 2026, align Brazil with the Crypto-Asset Reporting Framework of the Organization for Economic Cooperation and Development, with international data exchanges expected to start in 2027.
"The new rules are aligned with the type of declaration standard that other countries follow," said Andrea Costa Chaves, undersecretary of inspection at the Federal Revenue, to Valor Econômico, emphasizing that the focus is on combating tax evasion rather than excessive data collection. The regulations also require international exchanges operating in Brazil to provide user transaction records to the authorities
