Brazil’s tax authorities will require foreign cryptocurrency exchanges to provide business information

Odaily News Brazil's tax authorities will soon summon foreign cryptocurrency trading platforms to explain their operations and how they work with local service providers. Brazil's tax authorities are expected to issue a decree this week summoning the companies to provide further information. Unlike trading platforms officially established in Brazil, they are not obliged to report transactions conducted on their platforms. Andrea Chaves, deputy minister in charge of inspections at the Federal Tax Service, said: "What we are concerned about is to understand first of all how they operate here and whether there are illegal activities. We are also concerned about information on Brazilian wealth that is subject to tax." (Reuters)