Brazilian Tax Authority: Over 1 million citizens submitted cryptocurrency declarations in July, setting a new record

2022-09-07 14:19:59

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Chain Catcher News, the Brazilian Federal Revenue Service (RFB) has released cryptocurrency reporting data related to July, showing that over 1 million citizens submitted their cryptocurrency declarations in July, the highest number since the requirement was implemented in 2019. This data was only 365,000 in May, rose to nearly 800,000 in June, and increased by more than 50% in July to 1.337 million, with August's figures yet to be compiled. Additionally, statistics indicate that women became more active in cryptocurrency usage in the country in July, growing by 4%, accounting for 20% of total transactions.

Brazilian law stipulates that all cryptocurrency holders must report their information to the Brazilian Federal Revenue Service, even if transactions are not conducted through centralized exchanges. (Source link)

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