Brazil's new Finance Minister Dario Durigan has postponed a public consultation on implementing a Financial Operations Tax (IOF) on crypto transactions. The proposal was originally intended to classify certain crypto trades as foreign exchange operations, with tax rates potentially reaching 3.5%, but discussions have been delayed due to industry opposition and efforts to avoid conflicts with Congress during an election year. Industry experts believe that classifying stablecoins as foreign exchange instruments is legally controversial. (CoinDesk)

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