
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
Wait, it's 'Harry Potter and the Philosopher's Stone'? Why the new HBO series name is significant to Americans - 2
Vote in favor of Your #1 4\u00d74 SUVs - 3
The EU Is Considering Lifting Tariffs on Chinese Electric Vehicles - 4
7 Extraordinary Efficiency Applications for Experts - 5
Reality TV star Spencer Pratt, who lost his home in Palisades Fire, is running for mayor of Los Angeles
Orbán orders stop to gas deliveries to Ukraine via Hungary from July
Find the Specialty of Calligraphy: Dominating the Exquisite Art of Penmanship
FDA adds strongest warning to Sarepta gene therapy linked to 2 patient deaths
EU Council president: Ukraine should receive binding guarantees
Lower-cost space missions like NASA's ESCAPADE are starting to deliver exciting science – but at a price in risk and trade‑offs
Blue Origin’s New Glenn rocket landed its booster on a barge at sea – an achievement that will broaden the commercial spaceflight market
Army commander convicted of Guinea stadium massacre dies in prison
Genesis Marks 10th Anniversary With Magma GT Concept Aimed at High-Performance Flagships
Higher cost, worse coverage: Affordable Care Act enrollees say expiring subsidies will hit them hard













