TAX LEGISLATION ON CRYTOCURRENCIES WITH A VIEW TO LEGAL SECURITY

Abstract

This thesis aims to analyze the challenges and opportunities posed by the rise of cryptocurrencies, initiated with Bitcoin in 2009, to Brazilian tax legislation. The research highlights the need for an adequate legal framework to ensure legal certainty, predictability, and the protection of citizens' and investors' rights in the context of crypto-assets. The methodology utilized involved a literature review encompassing current legislation, such as RFB Normative Instruction No. 1888/2019, and studies by authors discussing legal certainty and the tax regulation of cryptocurrencies. Reports from relevant institutions, such as the Securities and Exchange Commission (CVM) and the Central Bank of Brazil, which emphasize the importance of a clear regulatory framework, were also analyzed. The results indicate that tax legislation regarding cryptocurrencies in Brazil is still under development, presenting gaps that generate legal uncertainty. The lack of a clear definition regarding the nature of cryptocurrencies and the absence of specific rules hinder compliance by taxpayers and the work of tax authorities. It is concluded that the creation of regulations that address not only taxation but also consumer protection and the prevention of money laundering is essential. Transparency in regulations and dialogue between the government and involved sectors are crucial to promoting a safer and more predictable environment for operations with crypto-assets.