Brazil IRS Creates Penalty Code For Dishonest Crypto Taxpayers

The IRS in Brazil has turned the spotlight on crypto deals and transfers, creating a special penalty code to fine for misreporting. Brazil Requires Monthly Filings for Crypto Activity Failing to file a monthly report of crypto asset movements triggers “Revenue code 5720 – Default for Default / Incorrect / Delay in Reporting on Transactions Performed with Crypto”, reported community portal OBN. Brazil introduced crypto regulation this August, and the IRS claims it has received reports for $14 billion in transactions in the past few months. It is uncertain how…

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Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge

After spending the first half of the year in a powerful, parabolic uptrend, Bitcoin price has been suffering from a downward spiral ever since the summer when the first-ever cryptocurrency topped out at $14,000. Now that Bitcoin has erased nearly 50% of the gains from the run-up, it’s decision time for the leading crypto asset and the rest of the crypto as a whole, according to one financial analyst, who says that whatever happens here, will either send Bitcoin into a new bull market, or an extended, multi-year bear market…

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