On June 16, CoinWorld reported, according to Livecoins, that Brazilian Congressman Eros Biondini submitted an amendment requesting the removal of Chapter 5 regarding the taxation of cryptocurrencies in Provisional Measure No. 1303/2025, and the repeal of the provisions related to cryptocurrency capital gains tax in Law No. 14754/2023. Biondini pointed out that the government's action of raising the financial transaction tax (IOF) rate through Decree No. 12499/2025 has exceeded the original intent of tax regulation, and it is expected to impose an additional burden of 20.5 billion to 41 billion reais in 2025-2026, increasing the burden on small and micro enterprises and individual entrepreneurs. He called on the crypto community on social media to pressure Congress, stating, 'Brazil could have led the trend, but instead, it is going against the tide, punishing those seeking value storage.'
Previously, on June 14, it was reported that Brazil plans to impose a unified tax rate of 17.5% on profits from cryptocurrencies.