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Brazil vs United States

Crypto regulation comparison

← Back to map | Brazil | United States
Brazil

Brazil

United States

United States

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%.

The United States has the world's most complex crypto regulatory landscape, with overlapping federal and state jurisdictions. The SEC regulates crypto securities and has pursued enforcement actions against exchanges and token issuers. The CFTC oversees crypto derivatives and considers Bitcoin a commodity. FinCEN applies BSA requirements to crypto exchanges as money service businesses. The IRS taxes crypto as property: short-term gains at income tax rates (10-37%), long-term gains at 0-20%. New 1099-DA broker reporting rules take effect from 2025. Multiple states have their own requirements, with New York's BitLicense being the most stringent.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 15-22.5%
Tax Rate 0-37%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central do Brasil, CVM, Receita Federal
Regulator SEC, CFTC, FinCEN, OCC, IRS, State regulators
Stablecoin Rules Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Stablecoin Rules Stablecoin legislation actively being developed in Congress; existing oversight by SEC, CFTC, state regulators
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
  • SEC regulates crypto as securities under Howey test; major enforcement actions (Ripple, Coinbase, Binance)
  • CFTC classifies Bitcoin and Ether as commodities; oversees derivatives markets
  • IRS treats crypto as property: short-term gains taxed at 10-37%, long-term (1yr+) at 0-20%
  • FinCEN requires exchanges to register as MSBs and comply with BSA/AML requirements
  • 1099-DA broker reporting for centralized exchanges effective from tax year 2025
Sources
Sources
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