Brazil’s finance minister delays divisive crypto tax plan

The proposed tax would classify some crypto transactions as foreign exchange operations, subject to rates ranging to as high as 3.5%. What to know : Brazil's finance minister delayed a consultation on taxing certain crypto transactions, citing concerns about triggering conflict with Congress during an election year. The proposed tax would classify some crypto transactions as foreign exchange operations, subject to rates as high as 3.5% that industry groups argue are illegal and unfair. The postponement comes amid pushback from industry groups, who say stablecoins shouldn't be treated as foreign exchange instruments, and may be followed by shelving another proposal to end tax breaks on investment securities.