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 astir applicable crypto and economical quality during the past week. In this issue: the Colombian president met with a radical of blockchain proponents, the Brazilian Senate passed a instrumentality taxing investments successful overseas exchanges, and the Fintech Chamber projected a tokenization model successful Argentina.

Colombian President Gustavo Petro Held a Meeting With Blockchain Experts

Gustavo Petro, president of Colombia, precocious met a radical of blockchain experts to analyse the possibilities of adopting this tech successful authorities projects and its benefits.

Different blockchain proponents, including 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 discussed the implementation of systems leveraging this tech successful wellness billing and onshore registry applications.

Petro besides hinted astatine utilizing bitcoin to concern escaped enactment cooperatives successful fashionable areas, stating that these tools “can beryllium 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 definite taxes that indispensable beryllium applied to Brazilians investing abroad, including cryptocurrency purchases. The proposal, present pending statesmanlike sanction, modifies the existent cryptocurrency income taxation summation rate, taking it to 15% for immoderate magnitude of income perceived.

However, the measure is inactive somewhat wide successful the eyes of experts, who inactive person doubts astir the bill’s applicability and which exchanges volition beryllium considered offshore.

Maria Carolina Sampaio, caput of the taxation country and spouse astatine GVM Advogados, told O Globo that the measure is wide and unclear, fixed that it does not specify which assets volition beryllium taxed and does not specify what constitutes a overseas investment.

Fintech Chamber Presents Tokenization Regulation Proposal successful Argentina

The Argentine Fintech Chamber revealed a acceptable of proposals focused connected regulating the tokenization of real-world assets (RWA) successful the country. In a document presented to Argentine President Javier Milei, the enactment proposes to follow a constricted sandbox to trial the functionalities of the tokenization attack for respective usage cases.

In the aforesaid way, the enclosure proposes to see the processes to corroborate that the issued tokens are linked to the promoted assets, letting issuers cognize the taxes and processes needed to implicit the tokenization of these assets. This would see allowing notaries to supply carnal introspection services for these assets.

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