Brazilian lawmakers criticize 30% Crypto Assets tax policy: "unreasonable and lacking market awareness"

Source: PortaldoBitcoin Original Title: Áureo Ribeiro defines as “horrible” the 30% tax to regularize cryptocurrencies. Original Link: “It's terrifying.” This is how Brazilian Federal Deputy Áureo Ribeiro (Solidariedade-RJ) commented on a regulation by the Brazilian government that sets a 30% tax for those wishing to declare undisclosed cryptocurrencies.

During an interview at the 2025 Brazil Blockchain Conference, Ribeiro stated that while significant progress has been made in cryptocurrency regulation this year, the government still lags behind on tax issues.

His main criticism targets the special property update and regulation system (Rearp), which was issued by the federal government on November 21 through Law No. 15,265/2025.

This measure actually provides an opportunity to regulate non-compliant assets, allowing investors to avoid future penalties, provided they agree to pay the stipulated taxes and formalize their positions.

According to the regulations, taxpayers must declare the market value of their crypto assets as of December 31, 2024 (the legally stipulated date). A total tax of 30% is levied on this amount, which includes a 15% fixed income tax on assumed capital gains and a 100% income tax penalty (an additional 15% on assumed gains).

According to this author of the 2022 cryptocurrency legal framework, the scale of taxation is the main issue.

“It's terrifying. Beyond reality”, defined Ribeiro. “A person wanting to repatriate funds under these conditions wouldn't do so because there's no incentive. Does the government expect people to bring money back to Brazil? It makes no sense.”

Ribeiro claimed that “the government has received poor advice on this subject” and lacks dialogue with the industry. “The government’s expectations are far from what is anticipated. We need more dialogue to advance and ensure that these resources return to Brazil.”

Ribeiro mentioned another issue facing the industry this year - the temporary measure No. 1,301, which stipulated an 18% tax on cryptocurrencies, but was ultimately overturned in Congress.

Regarding the fact of voting in favor of this temporary measure in the committee, Ribeiro claimed that this decision is part of a strategy:

“There is a legislative strategy: the temporary measure has two votes, the first in committee. Then, we voted in favor in committee because it must be submitted to the plenary session and convince the government that it might win. There, we worked with other leaders to do the necessary work to defeat the temporary measure.”

For him, the measure indicates a lack of understanding by the administration. “This is a matter of great concern to the market. The rule increases taxes for those who invest less, while reducing taxes for those who invest more. This reflects the government's lack of understanding of the cryptocurrency market,” he claimed.

The central bank is doing well in cryptocurrency regulation, lawmakers say

Ribeiro emphasized that the resolution issued by the Central Bank of Brazil aligns with market expectations and lays a solid foundation for the development of the country's cryptocurrency sector.

“I believe this resolution is a significant step forward and is long awaited by the Brazilian cryptocurrency market. This law provides a basis for the central bank to convene the market, conduct public consultations, and provide the legal and economic security needed by the market.”

According to the legislators, the market is beginning to establish itself very clearly. “The goal is to create a regulatory environment in Brazil to welcome international competitors and allow them to set up their headquarters in the country.”

Ribeiro also commented on the rules that equate stablecoin trading with foreign exchange transactions in international cryptocurrency trading—this could pave the way for the imposition of IOF (Tax on Financial Operations).

“I believe we will advance the discussion. We need to have extensive dialogues with the tax authorities and the central bank to minimize the impact on the market as much as possible.”

Although the overall evaluation is positive, he emphasized that there are still important issues to be addressed, such as Bill No. 4,931/2023, which involves asset segregation, and he defines it as the next step in regulating the cryptocurrency market in Brazil.

Finally, the legislator emphasized that the regulatory process of the department is still evolving. “The market is in a state of constant change. I am confident that the next steps will come. Congress will not stop legislating.”