Brazil weighs IOF tax on cross-border stablecoin transfers to close regulatory loopholes
According to an exclusive report from Reuters on Tuesday, the Brazilian Finance Ministry is considering applying the country's current financial transaction tax, or IOF, to certain cross-border transfers involving stablecoins and crypto tokens. According to law No. 14,478 of 21 December 2022, named the "Virtual Assets Act," crypto transactions are not subject to IOF, although [...]
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