Brazilian crypto industry dissatisfied with unified 17.5% tax rate on profits

Odaily Planet Daily reported that Brazil has cancelled its long-standing tax exemption policy for cryptocurrency profits. According to the new temporary law (Law No. 1303), personal cryptocurrency profits will be uniformly taxed at a rate of 17.5%. It is reported that the Brazilian cryptocurrency industry is dissatisfied with this resolution and points out that it is difficult to enforce international exchanges to comply with this regulation, which has a particularly serious impact on domestic operators. It is reported that all types of digital assets, from Bitcoin to NFTs, will be subject to unified taxation. （Forbes）