Brazil's Tax Department To Summon Foreign Cryptocurrency Exchanges

According to BlockBeats, Brazil's tax department is set to summon foreign cryptocurrency exchanges to explain their operations and how they cooperate with local service providers. This information was disclosed by Brazilian officials on June 19th. The tax department is expected to issue an order this week, summoning these companies to provide further information. Unlike exchanges formally established in Brazil, these foreign platforms are not obligated to report transactions conducted on their platforms. This move by the tax department is seen as a step towards understanding the operations of these foreign exchanges within the country.