Latam Insights: Colombian President Meets Blockchain Experts, Brazil Passes 15% Tax for Foreign Crypto Investments

Latam Insights: Colombian President Meets Blockchain Experts, Brazil Passes 15% Tax for Foreign Crypto Investments

Welcome to Latam Insights, a compendium of Latin America’s most related crypto and financial information over the past week. In this difficulty: the Colombian president met with a bunch of blockchain proponents, the Brazilian Senate handed a regulation taxing investments in international exchanges, and the Fintech Chamber proposed a tokenization framework in Argentina.

Colombian President Gustavo Petro Held a Meeting With Blockchain Experts

Gustavo Petro, president of Colombia, lately met a bunch of blockchain consultants to look at the chances of adopting this tech in state initiatives and its advantages.

Different blockchain proponents, together with JAN3 CEO Samson Mow, JAN3 Marketing Director Raul Velasquez, JAN3 CMO Edwin Rivas, RSK Labs co-founder Diego Gutierrez, Bingx International Operations Consultant Cristian Quintero, and Tropykus co-founder Mauricio Tovar mentioned the implementation of programs leveraging this tech in well being billing and land registry purposes.

Petro additionally hinted at using bitcoin to finance free work cooperatives in fashionable areas, stating that these instruments “can be promising for the prosperity of the people.”

Brazilian Senate Passes Law Taxing Cryptocurrency Purchases Made Using Foreign Exchanges

The Brazilian Senate approved Bill 4,173/2023, which defines sure taxes that have to be utilized to Brazilians investing overseas, together with cryptocurrency purchases. The proposal, now pending presidential sanction, modifies the present cryptocurrency revenue tax achieve fee, taking it to fifteen% for any quantity of revenue perceived.

However, the invoice continues to be considerably broad within the eyes of consultants, who nonetheless have doubts in regards to the invoice’s applicability and which exchanges will likely be thought-about offshore.

Maria Carolina Sampaio, head of the tax space and associate at GVM Advogados, informed O Globo that the invoice is broad and unclear, provided that it doesn’t outline which property will likely be taxed and doesn’t outline what constitutes a international funding.

Fintech Chamber Presents Tokenization Regulation Proposal in Argentina

The Argentine Fintech Chamber revealed a set of proposals targeted on regulating the tokenization of real-world property (RWA) within the nation. In a document introduced to Argentine President Javier Milei, the group proposes to undertake a restricted sandbox to check the functionalities of the tokenization method for a number of use instances.

In the identical method, the chamber proposes to incorporate the processes to substantiate that the issued tokens are linked to the promoted property, letting issuers know the taxes and processes wanted to finish the tokenization of those property. This would come with permitting notaries to offer bodily examination providers for these property.

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