$BTC Decripto is coming! The Lion is keeping an eye on cryptocurrencies! 💸 What is your opinion on this? Is it aimed at combating tax evaders or is it more government control? 🦁🦁

The Brazilian Federal Revenue Service released the draft of “DeCripto”, a new declaration that will replace Normative Instruction 1888, expanding the requirements for declaring crypto assets. The new rule will require detailed information on transactions involving foreign brokers, Decentralized Finance (DeFi) operations and even the transaction hash. Currently in the public consultation phase, it is expected to come into effect from 2025, bringing significant changes for investors and companies in the sector.

With the implementation of “DeCripto”, the Federal Revenue Service seeks to improve oversight and transparency in the crypto asset market in Brazil, aligning itself with international best practices. The inclusion of data on foreign brokerage firms and decentralized operations will allow greater control over the financial transactions of Brazilian taxpayers, making tax evasion more difficult and ensuring greater compliance with tax rules.