
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
Don't fall for it: These common tourist scams in Rome are easy to avoid if you know what you're looking for - 2
South Korea launches Earth-observation satellite on homegrown Nuri rocket - 3
Skeleton of famed musketeer possibly found in Dutch church - 4
Relish the World: Notable Caf\u00e9s You Really want to Attempt - 5
Expert advice for new stargazers: How to begin your amateur astronomy journey
World leaders, rights groups react to COP30 climate deal
'People We Meet on Vacation' is the 1st of many Emily Henry adaptations: What other books turned movies to look forward to
Atorvastatin recall may affect hundreds of thousands of patients – and reflects FDA’s troubles inspecting medicines manufactured overseas
10 Fundamental Tips and Deceives to Lift Your Cell phone's Exhibition
Birutė Galdikas: The last of the ‘angels’ in primatology’s most extraordinary chapter
Remains of banker missing since 1999 found on California beach by family looking for seashells
Elanco's drug gets emergency nod to treat deadly flesh-eating parasite in cats
Chinese astronauts’ return to Earth delayed over fears spaceship damaged by debris
Newly discovered link between traumatic brain injury in children and epigenetic changes could help personalize treatment for recovering kids













