Brazil's congressional cryptocurrency caucus is anticipating a decree that would impose a 3.5% tax on stablecoin transactions. They intend to draft legislation to counter this decree and block the initiative. The Liberal Front Party (PL) believes this measure would constitute an overreach of executive authority.
Redaksiya reports that the group's main argument is that the decision to impose taxes falls solely within the purview of the legislative branch, and such an action by the executive branch through a decree represents interference in the legislative process.
Representatives of the group state that they are ready to hold broad discussions on this matter and find alternative solutions. However, if the executive branch proceeds with such a decision, they will immediately prepare legislation to prevent this initiative. This is seen as a step that could negatively impact the development of the cryptocurrency market in the country.