According to CoinDesk, Brazil has abolished its long-standing tax exemption policy on cryptocurrency gains. Under the new provisional measure (Decree No. 1303), individual profits from cryptocurrencies will be uniformly taxed at a rate of 17.5%. Previously, individuals could sell up to 35,000 reais (approximately $6,300) worth of cryptocurrencies per month without being taxed. Before this change, gains exceeding that threshold were subject to a progressive tax rate, with the highest rate reaching 22.5% for transaction amounts over $5.4 million.