
A new law passed in Brazil designed to bolster the fight against organized crime will allow authorities to seize digital assets from criminals and potentially use them in the public’s interest.
The “Anti-Gang Law” was signed into law by Brazilian President Luiz Inácio Lula da Silva on Tuesday, creating much harsher penalties for crime leaders while providing authorities the means “for the financial, logistical, and material strangulation” of organized crime entities.
“The law represents progress in combating organized crime, by incorporating mechanisms for financial strangulation and strengthening the state's capacity to respond to the growing complexity of these criminal structures,” said Brazil’s Minister of Justice and Public Security Wellington Lima, in a statement.
“The focus is on reaching their highest levels, with more effective instruments and coordinated action,” he added.
While the bill does not specifically mention any crypto assets by name, it allows judges to order precautionary measures like “seizure, attachment, blocking or freezing of movable and immovable property, rights and assets, including digital or virtual assets” in cases where there is sufficient evidence of a serious crime as defined in the law.
In certain cases, the judge may also be able to authorize the early sale of assets, with proceeds then flowing to public security funds.
Custody of seized assets based on precautionary measures will fall to the public authorities, except in cases where a judge determines “the material impossibility or technical inadequacy of custody by the public authorities is demonstrated.”
In other jurisdictions, authorities have had difficulty in maintaining custody of crypto assets gathered from investigations. For example, law enforcement in South Korea didn’t adhere to crypto custody guidelines, and lost access to $1.4 million in Bitcoin.
Later, representatives for the National Tax Service in South Korea posted photos of seed phrases, the 12-word phrases that unlock a crypto wallet’s private key, allowing an unknown individual to grab $4.8 million in crypto tokens at face value—before ultimately returning them.
The newly passed law in Brazil was sent to congress in November as the nation’s government and central bank introduced proposals to crack down on crime and illegal Bitcoin or stablecoin use. The nation also clamped down on an illegal Bitcoin mining operation in September.
latest_posts
- 1
What is the Insurrection Act? Can Trump really use the military to 'put an end' to Minneapolis ICE protests? - 2
When faith comes under fire: How Iran’s repression of religious minorities has increased - 3
Foods with healthy-sounding buzzwords could be hiding added sugar in plain sight - 4
Computerized Moderation: Tracking down Equilibrium in the Advanced Age - 5
Minneapolis ICE shooting: Woman dies after federal agent opens fire on her vehicle amid immigration crackdown
The most effective method to Promoter for Cellular breakdown in the lungs Mindfulness in Your People group
Cheetah, Hammerhead Shark, and 38 Other Animals in Danger of Extinction Receive New International Protections from U.N.
How to watch 'A Charlie Brown Christmas' for free this weekend
ISS astronaut evacuation shouldn't interfere with upcoming Artemis 2 moon mission, NASA chief says
Famous Places to get-away for Americans
Exploring the Difficulties of Beginning a Family: Individual Experiences
Story of ‘first Black Briton’ rewritten by advances in ancient DNA technology
Must-Have Cooking Machine in Your Kitchen
Two separate Israeli espionage cases uncover Iran-linked activities in Jerusalem, Ashkelon













