Brazil's financial regulator requires all crypto exchanges to report user transaction data

posted 11 months ago
Brazil’s financial regulator, the Department of Federal Revenue of Brazil (RFB) created new rules requiring cryptocurrency exchanges to inform the regulator about all users' transactions, with the stated reasoning being for tax collection. Specifically, the agency requires that cryptocurrency exchange operators based in Brazil provide information about all transactions carried out within their system, while those platforms based abroad must provide information "whenever the monthly value of the operations, alone or jointly, exceeds $7,750 or equivalent."

Apart from the volume of a transaction, exchange operators must also provide data such as the nationality of the digital currency holder, their residence or domicile, registration number and the crypto assets used in a transaction. The new rules come into force September 2019.
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