The Brazilian Ministry of Finance has announced a significant change in its taxation policy for cryptocurrencies, replacing the previous tiered system with a single flat tax rate.
Effective June 12, Provisional Measure 1303 eliminates the former exemption that allowed individuals to sell up to R$35,000 (approximately $6,300) in cryptocurrencies each month without incurring taxes.
Under the new regulations, all capital gains from digital assets will now be subject to a 17.5% tax rate, marking a shift in the country's approach to cryptocurrency taxation.
