Brazil’s new finance minister shelves crypto tax consultation amid election pivot: Reuters

Brazil’s new Finance Minister, Dario Durigan, is shelving a public consultation on crypto taxation as the government prioritizes the October presidential election. Durigan, who recently replaced Fernando Haddad, aims to avoid contentious tax measures during the election year. This pause comes after Brazil’s central bank finalized rules for crypto service providers in November, bringing them under existing financial regulations. Despite a surge in domestic crypto usage, particularly with stablecoins, the tax treatment of these transactions remains undefined. The delay is part of a broader fiscal pause, with other tax proposals also being deferred. President Lula da Silva tasked Durigan with revitalizing the economy, and his legislative focus will shift to areas like big tech regulation and financial crisis management. Brazil is a significant player in the Latin American crypto market, ranking first in the region for crypto adoption.

(Source：The Block)