Brazilian lawmakers are gearing up to debate the future of cryptocurrency taxation. Local reports indicate that, due to the relevance of the issue, the Brazilian Congress is set to discuss the legality of a Provisional Measure issued by President Luiz Inácio Lula da Silva in June, which significantly expanded the target for these taxes.
The Provisional Measure eliminated some exemptions for small cryptocurrency trading compared to the old taxation scheme, which only taxed numbers over 35,000 reais (nearly $6,320). Now, with the new scheme, all crypto trading activities will be taxed at a 17.5% flat fee, regardless of the sums traded.
The matter will become urgent on July 26, meaning that all discussions will be paused until the proposal is debated and either approved or repealed. A hearing is scheduled for August 6th to debate this proposal, which must be confirmed within 120 days of its enactment to maintain its validity. The deadline for this decision is October 8; if the measure is not approved by then, it will lose its validity.
Read more.
A new development in the case of the La Libertad Avanza token, also known as Libra, might advance the ongoing probe to find new elements and examine the participation of the entrepreneurs linked to its disastrous launch. According to local media, a transaction made by a wallet address connected to Hayden Davis, one of the promoters of the Libra token and CEO of Kelsier Ventures, was made to Kraken, which keeps Know-Your-Customer (KYC) data of its users.
Coincidentally, the transaction that moved nearly $500,000 was completed during a meeting between Davis, Mauricio Novelli, another entrepreneur involved with Libra’s launch, and President Javier Milei, as verified by presidential meeting records.
Records also indicate that the purpose of the meeting, celebrated at the presidential palace on January 30, was to “analyze blockchain and decentralized technologies.”
Read more.
Nubank, a Latam-focused neobank institution, has decided to launch a new version of Nucoin, a previously scrapped cryptocurrency loyalty program. The company will allow customers to accrue nucoin tokens when completing specific actions, like issuing payments with the institution’s cards.
Other actions will be included in the future to expand the reach of the program, including paying bills on time, registering a Pix key, and sharing data with Nubank via Open Finance, according to a statement issued by the institution.
While the program is pretty similar to the one discontinued in September, they have one key difference. While the former program allowed users to púrchase nucoins directly from Nubank, assigning them a price that caused speculation problems, the new one only issues these tokens as a reward for some actions without the possibility of trading them.
Read more.
To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam Insights newsletter below.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
