Brazil signs overseas crypto tax bill into law

Brazil has implemented new regulations that require its citizens to pay a percentage of their cryptocurrency profits to the government. Under these rules, Brazilian citizens will be obligated to pay the state up to 15% of their earnings from cryptocurrency investments. This move aims to ensure that individuals who generate income from digital assets contribute their fair share to the country’s tax system. By imposing this tax on crypto profits, the Brazilian government aims to regulate and monitor these transactions more effectively, while also generating additional revenue for the state.

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