Brazilian congressmen proposed an amendment to prevent taxation on Crypto Assets.

PANews reported on June 16 that, according to Livecoins, Brazilian Congressman Eros Biondini submitted an amendment requesting the deletion of Chapter V of the Provisional Measures No. 1303/2025 on the taxation of cryptocurrencies and the repeal of the provisions of Law No. 14754/2023 concerning the taxation of cryptocurrency capital gains. Biondini pointed out that the government's increase in the rate of the Financial Transaction Tax (IOF) through Decree No. 12499/2025 has gone beyond the original purpose of tax regulation, and an additional R$20.5 billion to R$41 billion is expected to be levied in 2025-2026, increasing the burden on small and micro enterprises and the self-employed. He called on the crypto community on social media to put pressure on Congress, saying that "Brazil could have led the trend, but it has bucked the trend to punish people who seek a store of value." On June 14, it was reported that Brazil plans to impose a uniform tax rate of 17.5% on profits from Crypto Assets.