USDThis Week’s Global Policy Recap: Crypto Tax Breaks, Bans and Battles
![Brazil payroll robot strolls across untaxed crypto salary walkways [salary]](https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/DALL_E_2025_06_21_16_29_47_A_pastel_gouache_wash_style_scene_in_lavender_ash_and_soft_teal_tones_A_cubic_styled_humanoid_faceless_robot_with_a_large_mosaic_of_green_shades_and_1_5fea9bd479.webp)
Brazil Implements 17.5% Capital Gains Tax on All Crypto Transactions, Ending Tax Exemptions
On June 12, 2025, Brazil implemented a significant change to its crypto taxation policy, introducing a 17.5% capital gains tax on all profits from digital asset transactions, ending previous exemptions for small-scale investors. The new regulations eliminate the monthly tax-free limit of 35,000 reais (approximately $6,300), affecting all crypto gains. This move aims to boost government revenue through Provisional Measure 1303, which also includes tax increases on other financial investments. Furthermore, Brazil is exploring legislative measures allowing employees to receive part of their salaries in cryptocurrency, indicating a broader governmental interest in regulating the crypto market. Brazilian Congressman Eros Biondini has proposed a bill to repeal the 2023 law taxing crypto profits, exempting long-term holders from capital gains tax. This initiative aims to boost financial sovereignty and Bitcoin adoption, addressing Brazil's high tax burden, which reached 32.32% of GDP in 2024, while promoting self-custody.
Thailand Launches 5-Year Crypto Tax Break to Boost Economy and Compete with Dubai, Singapore
Thailand has launched a five-year capital gains tax waiver on cryptocurrency investments, effective from 2025 to 2029, to establish itself as a global fintech hub. This initiative, announced by Deputy Finance Minister Julapun Amornvivat, aims to attract crypto enterprises and investors while ensuring compliance with Thai SEC rules and FATF standards. The Finance Ministry predicts an economic boost of at least 1,000 million baht (approximately $30.7 million). Thailand's SEC is consulting on new listing standards for digital assets, allowing exchanges to list self-issued tokens for on-chain use while requiring disclosure of related-party connections. These changes, aimed at enhancing investor protection and market integrity, have a feedback deadline of July 21, following regulatory trends in Southeast Asia.
Ohio Passes Blockchain Basics Act Allowing Tax-Free Bitcoin Payments Under $200
Ohio is taking significant strides in cryptocurrency regulation with the recent passage of the Ohio Blockchain Basics Act (HB 116), which proposes tax-free Bitcoin payments for small transactions under $200. The bill, which received unanimous bipartisan support in the House Technology Committee, seeks to empower individuals in the crypto space and establish legal definitions for blockchain and digital assets. Notably, it aims to facilitate everyday Bitcoin use by exempting small purchases from capital gains taxes. This legislation is part of a broader trend as Ohio joins other states in considering crypto-focused initiatives to enhance digital asset regulation.
Arizona Revives Controversial Bitcoin Reserve Bill Amid Growing State-Level Crypto Legislation
Arizona has revived House Bill 2324, a proposal to create a Bitcoin and Digital Assets Reserve Fund from criminal forfeiture of digital assets. This bill, passed by the Senate with a narrow 16-14 vote, aims to establish a framework for managing seized digital assets. Proceeds from the sale will fund Arizona’s Anti-Racketeering Revolving Fund initially, with excess divided among law enforcement and state funds. Arizona follows New Hampshire in this legislative trend, as several states, including Texas, explore similar crypto reserve laws, signaling a shift towards structured state-level policies for digital assets. The bill awaits a crucial vote in the House.
Norway to Temporarily Ban New Energy-Intensive Crypto Mining Data Centers
Norway plans to impose a temporary ban on new power-intensive crypto mining data centers to conserve electricity, primarily for other industries. The initiative, proposed by Minister Karianne Tung, highlights that crypto mining offers minimal economic benefits while being highly energy-intensive. Targeting facilities with the most energy-demanding technologies, these restrictions are projected to commence in autumn 2025. Norway, a top ten crypto mining destination due to its hydropower resources, faces public concern over energy consumption and noise pollution from mining operations, which have previously affected local electricity costs and led to community pushback against certain facilities.
Russia Launches "Crypto Factory," Its First Bitcoin Mining Fund with 49% Projected Returns
On June 20, 2025, Russia launched its first Bitcoin mining investment fund, named "Crypto Factory," initiated by Power Systems and Finam. With an initial capital of 850 million rubles (about $11 million), the closed-end fund targets high-net-worth individuals willing to invest a minimum of 5 million rubles ($63,700). It aims for a 49% return, offering quarterly payouts of 10%, contingent on Bitcoin prices remaining above $35,000. The fund utilizes associated gas from oil drilling to power mining operations, presenting an eco-friendly mining solution while increasing financial transparency through real-time data access for investors.
Coinbase Secures MiCA Approval, Moves European HQ to Luxembourg
Coinbase has secured approval under the EU’s Markets in Crypto-Assets (MiCA) regulation, allowing it to operate legally across all 27 EU member states. The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) granted this license, marking Coinbase as the first American crypto exchange to receive MiCA recognition. Consequently, Coinbase is relocating its European headquarters from Ireland to Luxembourg, reflecting the country's supportive stance on digital finance. This move aligns with global competitors like OKX and Crypto.com and emphasizes the importance of regulatory frameworks in fostering a competitive crypto ecosystem in Europe, as noted by Coinbase's leadership.
KuCoin Unveils New Institutional Support Features and Launches Regulated Exchange in Thailand
KuCoin has enhanced support for institutional clients by partnering with BitGo Singapore to implement Go Network’s off-exchange settlement platform, enabling trading without pre-funding wallets as part of its $2 billion "Trust Project." This integration covers all KuCoin services, improving security and operational flexibility. Additionally, KuCoin launched its first fully regulated exchange in Thailand after acquiring ERX Company, aiming to capture a local market projected to reach $488.9 million in revenue with 7.84 million users by 2025. The initiative emphasizes compliance and trust in the rapidly growing Southeast Asian crypto sector.
This article has been refined and enhanced by ChatGPT.
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