Brazil Senate Approves Tax on Crypto Gains Held Outside the Country

The Brazil Senate approves new income tax rules, likely requiring Brazilians to pay up to a 15% tax on income derived from cryptocurrencies held on exchanges outside the country. The bill, expected to be approved by President Luiz Inácio Lula da Silva, sets the effective date as January 1, 2024, with the tax applicable to earnings exceeding $1,200. Source: Cryptopolitan