Brazilian Federal Revenue evaluates taxation of RWA tokens
The Brazilian Federal Revenue Service is evaluating ways to tax RWA (Real World Assets) tokens, which could have a direct impact on the cryptoactive market. During the Digital Assets Forum, promoted by Blockworks in partnership with Cantarino Brasileiro, Regiane Pedroso, executive director of ABToken, revealed that the body is studying new guidelines to include these assets in tax rules.
RWA tokens, which represent real assets such as receivables and fixed income, are on the rise in the national financial market. This asset class is attracting more and more investors looking to diversify their portfolios. With the growth of the sector, the Federal Revenue Service is moving to ensure the proper taxation of these operations. Pedroso mentioned that, in conversations with the body, it became clear that the current normative instruction will undergo a reformulation, focusing specifically on the taxation of RWA tokens.
Revenue Should Tax RWA Tokens
RWA tokens have gained relevance by facilitating access to traditionally complex assets, such as real estate and debt, making them more accessible to digital investors. However, the lack of clear regulation creates uncertainty for both investors and companies operating in this segment. ABToken, through its working groups, has already been talking to the Securities and Exchange Commission (CVM) and other regulatory entities to build a more stable and predictable scenario for the sector.
Regiane Pedroso highlighted the importance of creating new legislation specific to the token market, instead of adapting old rules, such as CVM Instruction 88, which was initially developed to regulate investments in startups. According to Pedroso, clearer and more modern legislation could offer greater legal certainty and boost the growth of the token market in Brazil.
A new source of revenue
Taxing RWA tokens is a natural next step for the IRS. After all, these assets are gaining popularity and moving significant volumes of capital.
The Revenue, throughout 2024, has signaled its intention to address the issue of taxes on cryptoassets more incisively. This includes, in addition to RWA tokens, native digital assets and other tokenization formats.
Bernardo Srur, CEO of ABCripto, also present at the event, highlighted that the cryptoactive market in Brazil has already reached the limit of current regulation. The Revenue, together with the CVM and the Central Bank, will have to create new rules that consider the complexity of these new financial instruments. As Srur highlighted, the balance between innovation and regulation will be crucial for the sustainable development of the sector.