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Brazil vs Kiribati

Crypto regulation comparison

← Back to map | Brazil | Kiribati
Brazil

Brazil

Kiribati

Kiribati

Legal
No Regulation

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%.

Kiribati has no specific cryptocurrency regulation. Uses the Australian dollar.

Tax Type Capital gains
Tax Type None
Tax Rate 15-22.5%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central do Brasil, CVM, Receita Federal
Regulator Ministry of Finance, Kiribati
Stablecoin Rules Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Stablecoin Rules No stablecoin regulation
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
  • No specific cryptocurrency legislation
  • Uses the Australian dollar
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources