cryptoupdate
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Brazil Approves New Cryptocurrency Tax Regulations
The Senate of Brazil has given the green light to new income tax regulations that will have significant implications for cryptocurrency users in the country. Under these regulations, Brazilian citizens will be required to pay a 15% tax on income generated from cryptocurrencies on international exchanges.This tax will apply to residents earning more than $1,200 from international exchanges and investment funds. The government of Brazil has set a target date of January 1, 2024, for the implementation of these new tax rules, with the aim of generating $4 billion in revenue. Read more
