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Brazil Mulls Taxing Cryptocurrency to Offset Financial Transaction Tax Hike


Amid a public debate regarding an executive order that increases the current tax on financial transactions, Brazil is considering taxing crypto transactions to mitigate the impact of the increase, which would affect a larger audience. Brazil Mulls Cryptocurrency Transaction Tax Cryptocurrency...

Brazilian Central Bank Considers Taxing Stablecoin Remittances


The stablecoin boom in Brazil has caught the attention of the central bank, which is currently exploring several ways to tax stablecoin remittances, including issuing a special license for crypto exchanges that provide these services. Central Bank of Brazil Explores Tax on Stablecoin-Based...

Kyrgyzstan Raises $1m from Crypto Mining Taxes in 2023


Source: chekart/Adobe Kyrgyzstan is quietly becoming a force in crypto mining, with its government set to raise over $1 million this year from taxing the industry. According to the media outlet 24KG, the nation’s finance ministry reported that it had raised $900,000 worth of tax revenue from crypto...

Brazilian Senate OKs ‘15% Crypto Tax Rate’


Source: karlavidal/Adobe Brazilian senators have voted in favor of a bill that proposes taxing crypto tax profits earned on overseas crypto platforms at a fixed rate of 15%. Per the parliamentary website and a report from Brazil’s Livecoins, lawmakers “seriously amended” the bill to ensure...

Tax Crackdown: UK Authorities Target Crypto Users for Unpaid Taxes


Image Source: Pixabay The UK national taxing authority has asked crypto users to disclose any unpaid taxes they might have in order to avoid fines.  In a Wednesday announcement, HM Revenue and Customs (HMRC) asked crypto users to make a “voluntary disclosure of any unpaid tax” relating...

Tax the Metaverse Calls Gain Momentum Following Scholarly Research


A new research paper from Harvard legal scholar Christine Kim argues that the same tax principles that apply to physical world income should extend to the metaverse. Christine Kim, a law professor at Yeshiva University, laid out the case for taxing the metaverse in her recent paper "Taxing...

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