Brazil Crypto Report #177: No Place to Hide: Brazil's New Crypto Tax Regime with Thiago Barbosa
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Dec 14, 2025 
Thiago Barbosa, a tax lawyer at Salles Nogueira Advogados and PhD candidate on crypto taxation, dives into Brazil's shifting crypto tax landscape. He discusses the new strict reporting requirements from the Central Bank and Receita Federal, including the Decripto mechanism. Thiago highlights the increasing scrutiny on retail investors and the looming threat of heavy surveillance. He also addresses the implications for cross-border transactions and offers advice for traders grappling with compliance and privacy issues in an evolving regulatory environment.
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Coordinated Tightening Of Crypto Rules
- Brazil has simultaneous rule changes: stricter Central Bank VASP rules and a new Receita Federal reporting form called Decrypto.
- These reforms together create a tighter compliance net across exchanges, custody and peer-to-peer flows.
How Decrypto Targets Cross-Border Reporting
- Decrypto aligns Brazil with the OECD Crypto-Asset Reporting Framework to enable cross-border information exchange.
- If you use a local VASP, the VASP reports for you; otherwise individuals must declare P2P transactions over R$35,000.
Declare P2P Trades Above R$35,000
- Declare peer-to-peer or foreign-VASP transactions over R$35,000 using the government portal to avoid noncompliance.
- Remember declaration does not automatically trigger tax payment; it just records transactions for Receita Federal.