Brazil cancels the Crypto Assets tax exemption policy and imposes a unified tax rate of 17.5%.

[Chain News] On June 14, it was reported that Brazil has canceled its long-standing tax exemption policy on Crypto Assets profits. According to the provisional decree (Decree No. 1303), a unified tax rate of 17.5% will be imposed on individual Crypto Assets profits. It is reported that this tax rate applies to all Crypto Assets holders, meaning that small investors will face a higher tax burden, while large investors may see a reduction in their tax burden. Previously, individuals in Brazil were not required to pay taxes on the sale of Crypto Assets not exceeding 35,000 reais (approximately 6,300 USD) per month.