Brazil to Tax Bitcoin Investors, Not Everyday Users
The Receita Federal, Brazil's tax authority, has established how it will treat the holding and usage of bitcoin and other digital currencies. The news, first reported by Valor and Folha de S. Paulo, confirms that the Brazilian government does not view bitcoin as a currency. The Receita Federal is taking a stance similar to the one announced by the US Internal Revenue Service last month. However, there are some key differences that sets Brazil's stance toward digital currencies apart from those of other governments. Tax limit. Like the United States, Brazil is treating digital currencies as....
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A report has revealed that the total value of bitcoin trading among digital currency exchanges in Brazil has now surpassed that of gold spot trading on the Brazilian Securities, Commodities and Futures Exchange – the country’s securities market authority and regulator – during the first half of 2016. Bitcoin is increasingly seen as a store of value ‘asset’ by everyday investors around the world. China is seen as the most obvious example, with over 90% of the global bitcoin trading volume now coming from the most populated country in the world. With Brazil, another growing economy is....
Picpay, a payments and wallet app, is now providing cryptocurrency services to more than 30 million users in Brazil. The company, that had announced this rollout last month, now allows its customers to purchase, hold, and sell digital assets from its platform. The organization partnered with Paxos, the issuer of the pax dollars stablecoin, in order to provide these services.
Picpay Launches Crypto Trading Services in Brazil
Fintech companies are introducing crypto as a way of getting their customers acquainted with cryptocurrency as an alternative investment opportunity. Picpay,....
Today BTCFlow has launched the first institutional exchange in Brazil, Latin America’s largest economy. “The digital currency market in Brazil is still in its infancy,” said Marcelo Miranda, founder of BTCFlow. “However, we are seeing aggressive growth and adoption in other markets, and have no doubt Brazil will follow suit.” BTCFlow was founded by Marcelo Miranda, a nine-year veteran of the Brazilian division of Deutsche Bank. While at Deutsche, he was the head of equity trading for Brazil. Spanning all of his career, he has accumulated over 15 years in finance and technology.
Computer manufacturing giant Dell made headlines not terribly long ago for deciding to accept bitcoin on their online store seemingly out of the blue. And now, it seems, they may be looking to expanding that acceptance to Brazil. That assumption of sorts is based a tweet from the official Dell in Brazil account (discovered and posted by a user on Reddit.com), which recently asked users about their interest in the digital currency: Você já usa #Bitcoin? Conte-nos sua opinião sobre o dinheiro digital. pic.twitter.com/Dx0yeeRsCq. - Dell no Brasil (@DellnoBrasil) August 23, 2014. Translated:....
Brazil’s first crypto ETF debut is postponed, but not because plans have failed whatsoever. The Bank of Brazil (Banco do Brasil) is now joining the bandwagon of ETF issuances, following the same steps as Bank Itaú and BTG Pactual did. New Launch Date Set for April 26 According to a letter sent by Hashdex to its clients, the state-backed banking institution will be able to offer its customers the possibility of buying the crypto ETF of Hashdex, which will have the ticker “HASH11.” That said, the Bank of Brazil’s customers could have exposure by investing in....