Declaring crypto held abroad in Brazil: Law 14,754 rules

Anyone who is a Brazilian tax resident and trades on Kraken, Coinbase or Binance is declaring crypto held abroad in Brazil under a regime that differs from the one for Brazilian exchanges. Mixing the two regimes is the mistake accountants see most often in annual returns. This guide covers what changed, what remains unsettled and how to run the numbers, with the rules checked in September 2026.

What Law 14,754/2023 changed

Law 14,754 of December 12, 2023 created a separate regime for financial investments abroad from January 1, 2024, and article 3 placed "virtual assets" and "digital wallets" inside that definition.

Three things changed for anyone using a foreign exchange. The rate became flat, 15% on the gain, with no progressive brackets and no deductions from the base. Assessment moved from monthly to annual, in the annual return under the foreign financial investments schedule, with no DARF in the month of sale. And the R$ 35,000 exemption ceased to apply to those operations: the Receita's IRPF 2026 questions and answers, question 653, states that "there is no legal provision for exemption" on income or gains from financial investments abroad.

There is an upside. Article 9 lets you offset documented losses on financial investments abroad against income from the same regime in the same year, and paragraph 2 lets unused losses carry forward to later years.

Where Brazil ends and abroad begins

The location test is custody, not the coin. Under question 653 of the IRPF 2026 questions and answers, virtual assets count as located abroad "when held in custody or traded by institutions located abroad". USDT bought on international Binance is abroad; the same USDT bought on a Brazilian exchange is in Brazil. The post what are stablecoins explains why this matters.

Self-custody sits in a gray zone. The law says the classification of virtual assets and digital wallets "will be set out in regulations" by the Receita, and Normative Instruction RFB 2,180/2024 did not settle the point for wallets that earn no yield. In practice, the prevailing reading among accountants is that crypto in a personal wallet stays under the domestic regime, with monthly assessment and the R$ 35,000 exemption, while a digital wallet that earns yield abroad may fall under Law 14,754.

How to file, step by step

On the assets schedule (Bens e Direitos), each type of crypto asset with an acquisition cost of R$ 5,000 or more goes under group 08, with code 01 for bitcoin, 02 for other cryptocurrencies, 03 for stablecoins, 10 for NFTs and 99 for the rest, stating the quantity and where it is held. The cost is the amount paid in reais on the purchase date, converted at the Central Bank's selling rate for that day.

Next comes income: for each sale, redemption or swap on the foreign exchange, the gain is the difference between the amount received and the average cost, both in reais. The sum of gains, minus documented losses from the same regime, goes on the foreign financial investments schedule, and the software applies the 15%.

Finally, keep the exchange statements and the rates you used: the Receita requires "adequate and reliable" documentation to accept a loss offset.

The monthly DeCripto report

Normative Instruction RFB 2,291 of November 14, 2025 created DeCripto and revoked IN 1,888/2019 from July 1, 2026. Article 5 requires individuals resident in Brazil to report operations carried out through a foreign service provider, on a decentralized platform or without an intermediary whenever the month's operations, alone or combined, exceed R$ 35,000.

Filing is through the Coleta Nacional system on the e-CAC portal, by the last business day of the following month. The late fee for individuals is R$ 100 per month or fraction; an omission or incorrect entry costs 1.5% of the transaction value.

Common mistakes

The most frequent error is applying the R$ 35,000 exemption to a sale on a foreign exchange. It does not exist in that regime, and a R$ 20,000 sale on Coinbase at a profit is taxed in the annual return.

Paying a monthly DARF on a foreign gain is also common. Tax under Law 14,754 is assessed in the annual return and paid with the annual balance.

Another slip is blending cost bases: bitcoin bought in Brazil and bitcoin bought on Kraken are separate positions, and transferring between them is not a sale.

Finally, many people skip DeCripto on the assumption that the annual return is enough. They are independent obligations with independent penalties. The guide to crypto taxes in Brazil has the full list of codes and deadlines.

A worked example

Ana bought 1 bitcoin on Kraken in March 2025 for R$ 300,000, hypothetical figures. In August 2026 she sold it for R$ 380,000. In the same year she sold ether on the same platform at a R$ 20,000 loss.

In her 2027 annual return, Ana reports the bitcoin on the assets schedule up to the sale date, enters the R$ 80,000 gain and the R$ 20,000 loss on the foreign financial investments schedule, and pays 15% on the net R$ 60,000, or R$ 9,000, with the annual balance. There is no DARF in September 2026 and no R$ 35,000 exemption. For August 2026, the month in which her Kraken operations exceeded R$ 35,000, Ana files DeCripto by September 30, the last business day of the following month. Had the sale taken place on a Brazilian exchange, the math would differ: a DARF of 15% on R$ 80,000 in September, with no offset for the ether loss.

Crypto assets carry high risk, including significant volatility and the possibility of losing the capital invested.

Confirm before filing

Vault Tax automatically separates domestic from foreign operations, computes both regimes and prepares the DeCripto files. It does not replace an accountant: take the result to a professional before filing.

Frequently asked questions

Does crypto on a foreign exchange get the R$ 35,000 exemption?

No. Since January 1, 2024, Law 14,754/2023 taxes income from financial investments abroad at 15% in the annual return, and the Receita's IRPF 2026 questions and answers confirm there is no exemption under that regime.

Do I pay a monthly DARF on crypto held abroad?

Not on gains under Law 14,754, which are assessed in the annual return. The monthly DARF still applies to trades on Brazilian exchanges above R$ 35,000 a month; for your own wallet, the treatment is still unsettled.

Does a hardware wallet count as abroad?

The rule is not settled. The prevailing reading among accountants is that a personal wallet with no yield stays under the domestic regime, while a digital wallet earning yield abroad may fall under Law 14,754. Record the position you take and confirm it with a professional.

Can I offset crypto losses abroad?

Yes, within the Law 14,754 regime: documented losses on financial investments abroad offset income from the same regime in the same year, and the remainder carries forward. A loss abroad does not offset a gain on a Brazilian exchange.

Let's talk

If you hold positions on a foreign exchange and have not yet separated the two regimes, the Vault Tax Free plan shows within minutes what falls where. It is free, with no card required, and the result is a sound basis for the conversation with your accountant and, if it makes sense, with Vault about the rest of your portfolio.