Brazilian Congress to Discuss Cryptocurrency Tax Bill in Public Hearing
The Brazilian National Congress has scheduled a public hearing to discuss the Provisional Measure (MP) that proposes taxing investments and cryptocurrencies in Brazil.
Public Hearing Details
The public hearing is scheduled for August 6th, starting at 2:30 PM. A representative from the Ministry of Finance is expected to participate, although confirmation is still pending. The event will be streamed live on YouTube.
Public Engagement
As of Tuesday, July 22nd, the e-Citizenship portal, where the public can submit questions and comments, had already registered 111 participations.
“The public hearing aims to explain MPV 1303/2025, which regulates the taxation of financial investments and virtual assets in Brazil, defining a single IRRF rate of 17.5% on income and gains, declaration and loss compensation rules, specific exemptions, and treatment for foreign investors,”
Background of the Measure
The Provisional Measure, issued by President Lula, came into effect on June 11th, introducing new taxation rules for the investment and cryptocurrency market.
Parliamentary Opposition
Following the publication of the MP, some parliamentarians have expressed their intention to vote against the inclusion of cryptocurrencies in the tax, proposing amendments to the measure. A key point of contention is the elimination of the monthly exemption for sales of up to R$ 35,000 on national exchanges, which has been in place since the issuance of IN 1.888/2019.
Key Figures and Timeline
Senator Renan Calheiros (MDB-AL) has been chosen to lead the debates during the public hearing. Deputy Carlos Zarattini (PT-SP) will serve as the rapporteur for the proposal.
The discussions will take place over four public hearings, with the first on August 6th and the last scheduled for August 20th. The MP will enter a urgency regime starting on July 26, 2025.
Under the urgency regime, all work in the Chamber and Senate is suspended until the MP is either approved or rejected. The deadline for evaluating MPV 1.303/2025 is October 8, 2025.
Impact on Investors
The proposed tax changes could significantly impact Brazilian cryptocurrency investors, particularly with the potential elimination of the monthly tax exemption. The coming months are expected to involve intense discussions among parliamentarians regarding the future of cryptocurrency taxation in Brazil.
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