Brazilian Trade Official Says Tax Reform Will Lead to Evasion Via Crypto

The head of a major Brazilian trade association, the Federation of Industries of the State of São Paulo (FIESP), said that Brazilians could start using crypto to evade taxes.

Paulo Skaf, the president of the FIESP, expressed concern over the recent tax reform proposal by Brazilian President Jair Bolsonaro, Cointelegraph Brazil reports on July 25. He reportedly warned that the new tax system could force citizens to use crypto such as (BTC) for tax evasion purposes.

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