Brazil Tax Authority Requires Traders To Report Crypto Transactions

News, Regulation | August 5, 2019 By:

Brazilian cryptocurrency traders are now obligated to report their transactions to the country’s tax authority.

The Department of Federal Revenue of Brazil published a guideline stating that crypto transactions, including purchase, sale, donation, transfer, withdrawal, and issuance, that exceed $30,000 Brazilian real ($7,600 USD) must be reported to the National Collection via the Virtual Service Center (e-CAC) every last working day of the month.