When Cryptos Go South: Brazil’s Tax Tango and Libra’s Shady Waltz

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Welcome to Latam Insights, where we serve up a steaming bowl of crypto news from the southern hemisphere, spiced with a bit of humor and a dash of sarcasm. This week, Brazil’s crypto tax is on the dance floor, Libra’s probe reveals some shady moves, and Nubank introduces a token that’s more carrot than stick.

Brazilian Congress to Debate Lula-Imposed Crypto Tax Scheme

Brazilian lawmakers are about to put their dancing shoes on for a heated debate on the future of cryptocurrency taxation. It seems that President Luiz Inácio Lula da Silva, in his infinite wisdom, decided to shake things up with a Provisional Measure back in June. 🕺 This measure, which has the crypto community doing the tango, significantly broadens the scope of these taxes, making sure no one can slip through the cracks.

The old scheme was a bit more forgiving, taxing only trades over 35,000 reais (nearly $6,320). But now, with the new scheme, every little crypto shuffle is hit with a flat 17.5% tax, no matter how small the step. 🕸️

The music will stop on July 26, and all discussions will be on hold until the proposal is debated and either approved or repealed. Mark your calendars for August 6th, when the lawmakers will take to the floor to debate this proposal. If they don’t make a decision by October 8, the whole thing will go kaput. 🎶

Libra Case: Mysterious Transaction Might Help Advance Ongoing Probe

In the world of crypto, where mystery and intrigue are as common as bad jokes, a new twist in the Libra case might just be the clue everyone’s been waiting for. According to local media, a wallet address linked to Hayden Davis, one of the masterminds behind the Libra token and CEO of Kelsier Ventures, made a rather suspicious $500,000 transfer to Kraken, a platform known for keeping meticulous records of its users. 🕵️‍♂️

What makes this even more interesting is that the transfer coincided with a meeting between Davis, Mauricio Novelli (another Libra enthusiast), and President Javier Milei at the presidential palace. The official agenda? To “analyze blockchain and decentralized technologies.” Or, in other words, to talk about how to make more money off unsuspecting investors. 💰

Nubank Announces New Nucoin Loyalty Program

Nubank, the neobank that’s been making waves in Latin America, has decided to give its customers a shiny new carrot: the Nucoin loyalty program. 🥕 This isn’t just any old loyalty program; it’s a crypto carrot that rewards you for doing things like using your Nubank card, paying bills on time, and even sharing your financial data with Nubank through Open Finance.

While the new program looks a lot like the one they scrapped in September, there’s one crucial difference: this time, you can’t buy nucoins directly from Nubank. Instead, they’re handed out as rewards for good behavior, ensuring that the tokens remain a symbol of loyalty rather than a speculative asset. 🌟

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2025-07-28 02:57