TAX IN BRAZIL

The Brazilian Federal Revenue has introduced new regulations for cryptocurrency asset declaration in the 2024 Income Tax, including the need to differentiate between 'altcoin' and 'stablecoin' and to report the custodian's CNPJ. Additional rules for assets held abroad were also specified, following the "Offshore Law." These new guidelines are effective from March 15, with the declaration period extending until May 31.

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