RIO DE JANEIRO, BRAZIL - Brazil’s National Treasury has ruled that the country’s citizens must declare all domestic cryptocurrency transactions as of August 1st this year.
According to Brazilian media outlet "O Globo", the Treasury says that it made its decision in an attempt to fight crimes “such as money laundering, tax evasion, weapons trafficking and the funding of terrorism.”
The Treasury claims: “As cryptocurrency transactions can be made anonymously and outside the traditional financial system, gangsters have been known to take advantage.”
The new ruling means that all Brazilian companies dealing with domestic transactions – no matter . . .