Brazilian senator calls for tax exemption on green bitcoin mining

On December 10, Brazil's parliament announced a new proposal that would require tax exemptions for all operations except the use of foreign mining equipment and renewable energy. Congress has also heard proposals to treat cryptocurrencies based on more money than commodities. If the deal goes through, the cryptocurrency exchange will be able to provide financial services and lend to the Brazilian people. Senator Iraja Silvestre Filho presented our motion to Congress. It is not known to what extent this support has benefited from lawmakers, but the Brazilian crypto community has provided a lot of support. Arthur Mining CEO Ray Nasser said Brazil could become the “mining mecca” of the world if it adopts duty-free tariffs on cryptocurrency miners. (Co-manager)