The Brazilian Cryptoeconomics Association (ABcripto) announced, this Wednesday (26), during the Crypto Tax Reporting Summit, the launch of the Tax Self-Regulation Program. The initiative is aimed at exchanges, token issuers, crypto economic infrastructure platforms, and other providers of crypto asset services, offering support for these companies to comply with the requirements of the Federal Revenue Service (RFB), including Decrypto and RFB Normative Instruction No. 1888/2019. The Program aims to ensure greater legal certainty, regulatory predictability, and standardization in complying with the obligations imposed on the Cryptoeconomics sector.
According to Tiago Severo, Legal Vice President and Self-Regulation at ABcripto, the initiative represents an important advancement for the crypto market in Brazil. “The Program was structured within the scope of the self-regulation pillar of ABCripto, with the objective that any market participant, whether associated or not, can have a soft landing regarding the adaptation to new regulations issued by the RFB“, Severo states.
The Program occurs in two stages. In the first stage, the company answers an electronic questionnaire, assessment, and then participates in an interview with the Program Coordinators, with the aim of identifying Gap Analysis.
In the second stage, the Program Coordination will deliver a personalized Action Plan design, with detailed guidance for the company to be in full compliance with the requirements of the Federal Revenue Service. If necessary, ABcripto and its consultants may accompany the company in interviews with the Federal Revenue Service, providing technical and legal support.
Interested companies must fill out an electronic form available on the ABcripto website and enter into an adhesion contract to the Program (Adhesion Term). It is estimated that between 30 and 45 days after signing the Adhesion Term, the adhering company will have its customized Action Plan.
The program has a pricing structure based on the size and the tax regime of the applying institution. Smaller companies, classified in the Simples Nacional, will have different conditions, while businesses operating under the Real Profit or Presumed Profit regime will follow another model. Large business groups with international operations will have customized support tailored to their needs, considering challenges such as intragroup transactions and international remittances.
Registrations are already open, and interested companies can obtain more information about the Tax Self-Regulation Program by accessing the ABcripto website at this link.
