Brazil vs Saint Vincent and the Grenadines
Crypto regulation comparison
Brazil
Saint Vincent and the Grenadines
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%.
Saint Vincent and the Grenadines has been a popular jurisdiction for offshore crypto businesses. No income or capital gains tax.
Tax Type
Capital gains
Tax Type
No tax
Tax Rate
15-22.5%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Banco Central do Brasil, CVM, Receita Federal
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Authority
Stablecoin Rules
Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Stablecoin Rules
No specific 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
- Popular jurisdiction for crypto business registration
- No income or capital gains tax
- Financial Services Authority provides oversight
- ECCB provides regional monetary oversight
- Several crypto exchanges have been registered here
