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Fintech Market Overview

This article does not constitute legal advice.

Cryptocurrencies in Brazil

Fintech Software

Blockchain techs have no special regulative provisions. The Brazilian legislation avoids identifying or imposing a blockchain definition (as well as accompanying applications). This concerns cryptocurrencies, however, some bills of law intended for regulating digital assets are being debated in the Congress right away.1

Although, there exist some documents issued by certain Brazilian financial authorities concerning ICOs and cryptocurrencies. They have not still been adopted as laws, however, they properly illustrate the manner the state authorities identify the above-mentioned assets.1

The Revenue Service outlined that taxpayers are obliged to declare any profit resulted from transactions effected using 'virtual coins' such as Bitcoin and other cryptoassets. In case the amount of transaction is exceeds 35,000 Reals, the natural person shall pay 15 per cent over the earnings as income tax.1

Virtual currencies in Brazil

Fintech in Brazil

Fintech in other countries

Notes
  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/brazil
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