Brazil has introduced a 17.5% flat tax on all crypto capital gains, eliminating exemptions for minor profits to boost revenue amid financial market reforms. This aligns with global shifts: Portugal imposed a 28% tax on gains held under a year in 2023, the UK slashed its tax-free allowance to £3,000, while Germany exempts long-held crypto from taxes. Koinly CEO Robin Singh notes governments view crypto as an easy tax target, hitting small investors hardest and ending an era of leniency, foreshadowing stricter worldwide regulations.