Alex Guimarães
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New MP punishes Brazilian crypto companies and favors foreign competition
The Minister of Finance, Fernando Haddad, during the signing ceremony of the agreement between Sebrae and the Brazilian Agency for the Promotion of Exports and Investments (ApexBrasil) at the Palácio do Planalto. Photo: Marcelo Camargo/Agência Brasil
Provisional Measure No. 1,303, issued on June 11, 2025, bursts onto the Brazilian tax scene as a successor to the failed offensive that, a few weeks earlier, aimed to increase the IOF on currency exchange, cards, and, in a preliminary draft, even on stablecoin operations – although this lacked legal basis, as we argued in a previous article.
Provisional Measure No. 1,303, issued on June 11, 2025, bursts onto the Brazilian tax scene as a successor to the failed offensive that, a few weeks earlier, aimed to increase the IOF on currency exchange, cards, and, in a preliminary draft, even on stablecoin operations – although this lacked legal basis, as we argued in a previous article.
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