The post Bitcoin News Today: Bitcoin Taxation Bill Overturned to Preserve Market Competitiveness appeared on BitcoinEthereumNews.com.

Brazil reversed MP 1,303/2025 to protect the Bitcoin market, suspend new taxes, and sparked the debate about government financing and the reform industry. The Chamber of Deputies of Brazil has pulled Provisional Measure (MP) 1,303/2025 off its legislative agenda, which makes the bill invalid and stops planned tax changes on Bitcoin and other digital assets.  The financial policy would have increased capital gains tax and new taxes, which would greatly affect the cryptocurrency market and online gambling activities.  Its dismissal indicates a great resistance by legislators and maintains competitiveness in the new crypto industry.​ The deadline on whether to approve or not the measure passed without the Senate voting owing to the decision by the Chamber. The MP had been justified by the government, as part of the fiscal balance target of 0.25% primary surplus that Brazil needs in 2026.  The bill anticipated further revenues of R$17 billion regardless of various amendments that diluted the effect, including the elimination of increased taxes on internet sports betting.​ Unexpected Backlash and Fiscal Consequences The defeat of the bill received mixed reactions. The chair of the joint committee that considered the MP Senator Renan Calheiros was lamenting about the result of the Chamber and the verdict he described as being very bad with regard to the finances of the people.  The move was hailed as a denial of new taxes by the opposition voices, which demanded that the government optimize its spending on the people and reform its structure instead of increasing taxes.​ The government threatened to block up to R$10 billion of parliamentary amendments in response to the decision made by the Chamber.  The head of finance, Randolfe Rodrigues, pointed at the wide range of fallback options but did not provide details.​ The reversal is in the context of broader discussions of…

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Filed under: News - @ October 12, 2025 11:17 am