Welcome to the NiceHash crypto news digest. Let's see what happened these last few days.

Brazil Approves 15% Tax on International Crypto Earnings

The Brazilian Senate has approved a bill for new income-tax regulations, potentially imposing up to 15% tax on cryptocurrency earnings from international exchanges. This applies to Brazilians earning over $1,200 from foreign exchanges and investment funds with a single shareholder.

If President Luiz Inacio Lula da Silva sanctions the bill, it will be effective from Jan. 1. The government aims to generate $4 billion in revenue from these taxes. Senator Rogerio Marinho criticized the tax as a result of poor government management.

Meanwhile, Brazil's cryptocurrency market is growing, ranking ninth in global crypto adoption and managing about $100 million in bitcoin ETFs.

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MicroStrategy Buys Additional 16,130 BTC for $593.3M

MicroStrategy, a leading business intelligence and software company, has purchased an additional 16,130 BTC for $593.3 million, as announced by Founder & Chairman Michael Saylor.

This acquisition occurred during a period of rising Bitcoin prices, with a recent high of over $38,300. Since their initial $250 million investment in Bitcoin in August 2020, MicroStrategy has significantly expanded its holdings. As of November 29, 2023, the company's total Bitcoin reserve is approximately 174,530 BTC, valued at over $6.59 billion.

The average purchase price of these bitcoins is about $30,252 per bitcoin, inclusive of fees and expenses. This move aligns with MicroStrategy's ongoing strategy of aggressive Bitcoin investment, especially as the fourth Bitcoin halving and potential SEC approval of the first spot Bitcoin ETF are on the horizon.

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AntPool to Refund Record $3.1M BTC Fee

AntPool, a mining pool, has announced its will to refund an transaction fee of 83 BTC to an affected user, provided they verify their identity. This fee, equivalent to about $3.1 million at the time, was charged for a transfer of 139 BTC on November 23, setting a new record for the most expensive transaction fee in fiat currency terms.

AntPool's risk control system had temporarily frozen the fee when processing the transaction. The affected user must submit their identification details to AntPool by December 10. They are required to prepare a signing tool, such as Electrum or Bitcoin Core, and use a private key of a wallet address provided by AntPool to sign a message with the code “AntPool.”

This incident echoes a similar situation in September, where Paxos, a stablecoin issuer, was charged a $500,000 fee for a $2,000 BTC transfer. In that case, the Bitcoin miner who received the fee eventually returned it to Paxos.

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