According to ChainCatcher, the Special Division of the Brazilian Federal Tax Service will begin collecting information from foreign cryptocurrency exchanges to ensure that they comply with local regulations. Deputy Inspection Secretary Andrea Chaves said that the tax department is concerned about the operations of these exchanges in Brazil and will collect taxable information. It is expected that the regulations for summoning foreign exchanges will be issued before the end of this week.
It is reported that the total amount of cryptocurrency declared in Brazil in the first half of 2023 reached 133.6 billion reais (about 24.6 billion U.S. dollars), an increase of 36.6% over the first half of 2022. Among them, 14.5 billion reais (about 2.7 billion U.S. dollars) came from foreign exchanges.
Data from Kaiko Research shows that from the beginning of 2024 to the beginning of May, crypto trading volume involving the Brazilian real reached $6 billion, a year-on-year increase of 30%.
