But isn't that to protect national economic interests? because a country has the right to protect their interests and prohibit anything other than their currency from being used in various industries, and especially in the gambling industry, so there is nothing too problematic about their decision. Moreover, such regulations do not really affect online casinos, since they only limit casinos operating in their territory, while the majority of casinos are based in Curaçao or other countries outside Brazil and Brazilians are still free to use online casinos that support crypto.
I share the same opinion as this guy here:
In my country (Australia) ALL gambling winnings and profits are 100% tax free.
You don't have to declare it because it is considered a hobby.
In the USA and other countries gambling winnings are treated the same as income and gambling companies are required by law to withhold federal income taxes.
If I had to pay taxes I would quit gambling. The risk wouldn't be worth it.
Does your country tax gambling winnings and if so do you declare it yourself or does the gambling operator withhold the taxes on your behalf?
And I add my opinion:
I agree with OP. I'm tired of discussing this, taxes on gambling is the most absurd thing you can think of, the chances are 50/50 to win or lose in a game, when you lose your bet, the government doesn't reimburse you.
The government acts like a mafia partner that forces us to include it in our profit shares, we already pay enough taxes to support the state apparatus and we don't get the expected return.
For a change, a law that looks more like a botched job made by politicians who do not understand what they are regulating. We know enough about that in Europe. I bet they will come up with another regulation in a few years, when they realise how much they are missing with users playing on cryptocurrency platforms.
You can't put doors on an open field.
When regulators change regulations in the sector all the time, we know that this is a strong accusation that, in addition to not disclosing the matter, they are pushing solutions without any logical basis that have never been tested before, which could destroy the sector.
Not just encourage but will definitely happen, think of it like this, the more you tighten your grip on something that you want to control then the more that they want to resist which in this context would pave way for off shore betting so as to prevent surveillance or the regulation from reaching those people. This will also make the illegal elements much more creative on how they're going to use that regulation in their favor if evasion of the regulation isn't possible. As always, just another problem regulation that's made without any knowledge from the people that would care about it the most.
They are literally asking for it.
sorry if this is a little off topic but is anyone here from Brazil? I am curious, what is Pix? I saw it in the article and while reading through it, I got the feeling that someone wants to pass(or have passed) this law to make gambling bettors in Brazil use Pix more often. also, I can't help but think that this will not stop with online gambling.
Are you talking about the gambling board as a whole? Yes, it has a dozen of them who are very active here.
Pix is an instant payment protocol created by the Brazilian central bank, resources are transferable between payments debited from the payer's balance and credited to the recipient's account.
One of the ways to transfer money via Pix is to link the CPF (Cadastro de Pessoas Físicas - Registration of Individuals, a tax document here in Brazil), telephone number, email or random key which is known as Virtual Payment Address (similar to the crypto receiving address ) is formed by an ordered sequence of 32 characters between numbers and letters.
