Brazil, Bitcoin and crypto fined those who do not pay money tax!

Brazilian crypto currency continues to go over investors.

Brazil’s tax office RFB continues to impose fines for those who do not declare their crypto money and Bitcoins.

In a statement issued on 6 December, it was emphasized that anyone who trades crypto money in Brazil should declare them because of the new tax law. The law also covers companies, individuals and brokerage firms. Stating that any activity involving crypto currencies should be reported, tax experts stressed that these include crypto money donation, trading, depositing and withdrawal.

Those who do not comply with the law and do not file tax declarations will be fined from $ 120 to $ 360.

RFB said last August that crypto currency investors in Brazil are more than investors in the country’s largest stock exchange. The stock exchange had 800,000 customers at that time.