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Brazil has eliminated its tax exemption for small crypto traders, imposing a flat 17.5% rate on all digital asset gains. The change, effective June 12, aims to boost government revenue through stricter financial market taxation.
- Brazil replaces progressive crypto tax with a flat 17.5% rate on all gains, ending exemptions for small traders.
- The new rule applies to self-custody and offshore holdings, broadening the tax base.
- Provisional Measure 1303 aligns with the government's strategy to increase revenue from financial markets.
📎 Related coverage from: cointelegraph.com