💨 Abstract

Brazil's tax revenue service plans to resume discussions on requiring financial technology companies to report transaction values due to money laundering concerns. The service has intelligence capabilities to track transactions and intends to extend them to fintechs. The government suspended such plans last year due to public backlash, but the service is now expressing concerns about the financing of organized crime in Brazil.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖