I just looked into this and the whole thing is the result of groups like ABCripto, the parliamentary groups of the free market and local crypto influencers. Especially the organized coalition of pro-business and opposition lawmakers inside congress might have played a vital role here, right? You can tell more, I just googled it.
The point is, we are also going to be imposed with a tax and we don't have that kind of say in this matter so far, and if you raise such voices without any backing then you could end up in jail too, which no one wants. But we have our crypto council, and we might request them if they choose aggressive taxation because so far they have chosen aggressive taxation on almost all things. We even have to pay taxes to register our smartphones which are sometimes even half the price of the smartphones haha.
Exactly, the national exchanges mobilized and created an association to defend themselves against heavy competition, because with the arrival of international exchanges like binance and bybit etc, they were losing many clients, I myself am one of them. Today I rarely use national exchanges.
They mobilized, pressured the government asking for fairer regulation against "unfair competition" and the result? Now national exchanges are required to report users directly to the federal revenue automatically, a whole structure is being designed for this, including the points I mentioned before. ABcripto is also largely to blame, as it helped form this lobby.
Today, the brazilian national market is already suffering the consequences of this, with the strong regulation and control created by the government. So far, 2 giants of the national market have already announced that they will close their doors. See the cases
1 and
2.
With this regulation going forward, the free market of exchanges will cease to exist.
