Brazil to Propose 3.5% Tax on Stablecoin Purchases and Remittances

The measure, described last week, would be submitted by Brazils Revenue Service for public consultation and would impose a 3.5% tax on both stablecoin purchases and remittances, treating them as foreign currency exchanges subject to the existing Tax on Financial Transactions (IOF). Brazil Prepares For Issuing Decree Taxing Stablecoin Purchases and Remittances The Brazilian crypto []