President Lula approved the law that establishes a new tax of up to 15% for Bitcoin and cryptocurrencies held by Brazilians on international platforms, such as Binance.

The proposal was approved by the Senate at the end of November, introducing unprecedented taxes for this type of investment. Consequently, taxation will fall on income from financial investments, profits and dividends from entities controlled abroad, such as offshore companies and trusts, also covering cryptocurrencies.

Therefore, users with cryptocurrencies valued at more than R$6,000 in companies abroad, such as Binance, Bitget, Gate.io, Crypto.com, Coinbase, Bitfinex, OKX, Crypto.com, Bybit, among others, are subject to a tax of up to 15%.

The implementation of the new rule starts from January 1, 2024.

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