In a significant move to tighten the reins on cryptocurrency taxation, Brazil’s Receita Federal do Brasil (RFB) has uncovered discrepancies in the tax declarations of over 25,000 individuals. The authority’s investigation revealed that these taxpayers held at least 0.05 BTC in their accounts but failed to report these assets in their income tax filings. This oversight has potentially exposed them to hefty penalties or even criminal charges for tax evasion.
