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Brazil vs Cyprus

Crypto regulation comparison

← Back to map | Brazil | Cyprus
Brazil

Brazil

Cyprus

Cyprus

Legal
Legal

Brazil passed comprehensive crypto legislation (Law 14,478) in December 2022, which took effect in June 2023. The Banco Central do Brasil was designated as the primary regulator for crypto assets used as payment, while the CVM oversees crypto securities. Capital gains on crypto are taxed at 15-22.5%.

Cyprus regulates crypto under the EU MiCA framework (fully applicable since December 2024). CySEC authorizes crypto-asset service providers (CASPs) while the Central Bank of Cyprus oversees e-money tokens and asset-referenced tokens. Crypto gains from occasional transactions are currently not taxed; active trading is taxed as income at 0-35%. A proposed 8% flat tax on crypto gains is pending parliamentary approval for 2026.

Tax Type Capital gains
Tax Type Varies
Tax Rate 15-22.5%
Tax Rate 0-35% (proposed 8% flat rate from 2026)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central do Brasil, CVM, Receita Federal
Regulator CySEC, Central Bank of Cyprus
Stablecoin Rules Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Stablecoin Rules Regulated under EU MiCA framework
Key Points
  • Law 14,478/2022 (Marco Legal das Criptomoedas) provides a comprehensive legal framework
  • Banco Central regulates VASPs; exchanges must obtain authorization to operate
  • Capital gains taxed at 15% (up to R$5M), 17.5% (R$5-10M), 20% (R$10-30M), 22.5% (above R$30M)
  • Monthly gains under R$35,000 from sales on domestic exchanges are exempt
  • Receita Federal requires detailed monthly reporting of crypto transactions via IN1888
Key Points
  • CySEC authorizes and supervises crypto-asset service providers under MiCA
  • No capital gains tax on crypto for occasional transactions; active trading taxed as income
  • EU MiCA regulation applies as an EU member state
  • AML/CFT requirements enforced for all crypto businesses
  • Proposed 8% flat tax on crypto gains pending parliamentary approval for 2026
Sources
Sources