The Ministry of Finance denied that Drex, the digital version of the real being developed by the Central Bank, will have additional taxation or be used to monitor financial transactions. In response to a request from Deputy Allan Garcês, the government assured that the use of Drex will not change the existing tax rules and that banking and tax confidentiality will be maintained.
The government also stated that the Federal Revenue Service will not have access to additional information about the operations carried out with Drex and that it will continue to implement measures to ensure tax compliance. Drex aims to modernize the Brazilian financial system and create a new infrastructure for payments and transfers.
The opposition to the government has criticized the project, arguing that it could violate banking secrecy, but the federal government and the Central Bank deny this possibility. Drex is under development and is undergoing a second phase of testing. #drex