According to Foresight News, Brazil has revoked its longstanding tax exemption on cryptocurrency profits. A new provisional decree, Decree No. 1303, mandates a uniform tax rate of 17.5% on individual cryptocurrency gains. Previously, individuals were exempt from taxes on monthly sales of up to 35,000 reais (approximately $6,300). Before this change, profits exceeding this threshold were subject to a progressive tax rate, with a maximum rate of 22.5% applied to transactions exceeding $5.4 million.