The Taxation of Cryptocurrencies Around the World: A Comparative Analysis

Abstract

This Final Course Project analyzes the taxation of cryptocurrencies from a comparative perspective, focusing on the legal and economic impacts of different regulatory models and their implications for the Brazilian context. It begins with a technical characterization of crypto assets, starting from the perspective of their role as currency and their direct effects, in addition to their distinct nature in relation to traditional currencies, highlighting effects such as the extraterritoriality of transactions, necessary technology, and primary ideas. Next, selected experiences from various countries around the world are examined, with opinions and measures that serve as a basis for observing their socioeconomic impacts around their acceptance or rejection, highlighting effects on legal certainty, tax collection, incentives for innovation, and, above all, taxation. Finally, we compare the implications for the Brazilian economy and the way in which taxation is carried out in Brazil. Methodologically, we adopt bibliographic research and normative analysis. We conclude that there is a need for balance between taxation and tax simplicity in order to view cryptocurrencies with enthusiasm for domestic economic development and socioeconomic benefits, thereby reducing asymmetries and seeking solutions to existing problems, with taxation as an extremely relevant factor.