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Brazil Now Requires Crypto Exchanges to Report on User Transactions to Authorities

May Arjomand

Summary: The Department of Federal Revenue of Brazil (RFB) stated on June 19 that new rules will be implemented requiring that cryptocurrency exchanges report users’ transactions to the regulator. These new guidelines are being enforced in order to identify and prevent tax fraud.  The rules state how cryptocurrency trading platforms in Brazil should report movements of ...

The Department of Federal Revenue of Brazil (RFB) stated on June 19 that new rules will be implemented requiring that cryptocurrency exchanges report users’ transactions to the regulator. These new guidelines are being enforced in order to identify and prevent tax fraud. 

The rules state how cryptocurrency trading platforms in Brazil should report movements of users’ cryptocurrency funds to the agency and provide information about all transactions occurred within their system. 

Author: May Arjomand

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