Brazilian president Jair Bolsonaro has criticized the country’s now-suspended crypto project for indigenous people.
The Federative Republic of Brazil is a country in South America with a population of two hundred eight million and has the largest area in both Latin America and South America. Brazil has a large economy with the eighth-largest gross domestic product (GDP) but a small GDP per capita and poor positions in human-development and crime, with one of the highest levels of homicide and violence. Brazil has no strict regulations towards Bitcoin. Bitcoin in Brazil operates under Law No. 12,865 that was enacted in October 2013. Bitcoin is considered an electronic currency – “resource, stored on a device or electronic system that allows user to perform a payment transaction”. Bitcoin trades are not taxable in Brazil, but operations with blockchain-based currencies are discouraged by financial authorities, such as the Central Bank of Brazil, due to their high operational risks.
- Chilean Taxpayers Must Report Cryptocurrency Profits to Chilean IRS: Local Media
- Lack of ETNs Keeps Wall Street Away From Bitcoin, Says CBOE Analyst Ed Tilly
- Bitcoin Falls Towards $3,550 as Top Cryptos See Moderate to Major Losses
- Proposed License Requirements End Anonymous Crypto Selling and Buying in the Netherlands
- Hodler’s Digest, Jan. 14–20: Top Stories, Price Movements, Quotes and FUD of the Week