Crown has raised $13.5 million in a Series A round led by Paradigm as the São Paulo fintech expands its institutional stablecoin infrastructure and the circulation of its Brazilian real–pegged
Brazil
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A federal court in Brazil sentenced 14 people to jail for laundering more than 508 million reais ($95 million) from international drug trafficking and other violent crimes, wrapping up a
Brazil’s crypto market is moving billions of dollars a month, and regulators are taking notice. In a technical presentation at the Blockchain Conference Brasil, Flavio Correa Prado, an auditor at
Rumors of taxing stablecoin flows in Brazil have sparked a debate between some lawmakers and the Ministry of Finance. While the ministry is preparing a normative act on the subject,
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The Brazilian government would be considering taxing stablecoin flows, applying the known Tax on Financial Operations (IOF) on remittances and international payments using these instruments. The news comes as the
The Brazilian Federal Revenue Service has revised the rules for tax declarations on crypto assets. The new rules require foreign exchanges to report transactions to the agency and mandate that
