Brazil Abolishes Crypto Tax Exemption: Impacting the Landscape of Digital Assets

Brazil has taken a significant step by abolishing its tax exemption on cryptocurrencies, impacting digital asset trading in the nation. The policy change is expected to generate R$20 billion in revenue by 2026 for the government. This measure affects all cryptocurrencies, including Bitcoin and Ethereum, as President Lula da Silva and Finance Minister Fernando Haddad implemented Provisional Measure No. 1303. 💰 📈 💸 The new policy will significantly alter investor sentiments and affect financial market behavior in Brazil, aligning with international regulatory trends in the digital asset space.