PANews June 14 news, according to CoinDesk, Brazil has canceled its long-standing tax exemption policy on cryptocurrency profits. According to the temporary decree (Decree No. 1303), a unified tax rate of 17.5% will be imposed on individual cryptocurrency profits. It is reported that this tax rate applies to all cryptocurrency holders, meaning that small investors will face a higher tax burden, while large investors' tax burden may decrease. Previously, in Brazil, individuals selling no more than 35,000 reais (approximately $6,300) in cryptocurrency per month were exempt from taxes.