Led by Guilherme Haddad Nazar, nephew of Fernando Haddad, Binance Brasil is considered a foreign company without headquarters in Brazil, according to its domicile policy.
The Brazilian Federal Revenue Service (RFB) released new guidelines for income tax and withholding on gains made with Bitcoin and other cryptocurrencies.
As a result, cryptocurrency exchanges domiciled in Brazil must collect the tax directly at source, with rates of 15% to 22.5%, applicable to operations such as staking, where the user lends their cryptocurrencies in exchange for interest.
National brokers will be mainly affected by this measure. However, Binance, the world's largest cryptocurrency exchange, responsible for a large part of cryptocurrency trading in Brazil, is not included in the new regime.
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