MetaMask integrates tax calculator to simplify crypto reporting in Brazil
MetaMask integrates tax calculator to Brazil users
MetaMask, one of the world’s leading cryptocurrency wallets, has introduced a tax calculation tool designed to simplify tax reporting for crypto investors, including those in Brazil.
The integration, developed in partnership with Crypto Tax Calculator (CTC), allows users to generate tax reports directly within the MetaMask Portfolio platform, according to Livecoins.
The MetaMask Tax Hub provides a free tax summary based on the investor’s jurisdiction and offers an option to purchase a detailed report with a 30% discount. By connecting multiple wallets, the tool automatically reconciles on-chain transactions, helping users determine their tax obligations in just a few clicks.
A crucial step toward compliance
The new feature comes at a time when global regulators, including Brazil’s Receita Federal, are tightening their oversight of cryptocurrency transactions. A growing number of investors remain unaware that on-chain transactions are taxable, with studies from CTC showing that 70% of U.S. investors lack proper knowledge of their tax liabilities.
Brazil is one of 23 jurisdictions covered by the tool, alongside the United States, Canada, Germany, Japan, and others. Reports are available in multiple languages, including English, French, and Spanish, ensuring broad accessibility.
Nick Waytula, head of taxation at CTC, emphasized that the goal is to make tax management intuitive rather than burdensome. “This is not just about adding a feature but ensuring investors can easily meet their tax obligations,” he said.
By offering native integration with a tax solution, MetaMask sets itself apart from other wallets, aiming to bridge the gap between decentralized finance and regulatory compliance.
Meanwhile, Brazil has solidified its status as a global leader in crypto, with 26 million citizens—12% of the population—owning digital assets. This ranks the country sixth worldwide in crypto adoption, highlighting its growing impact in the sector.
