Brazil passes law allowing seized crypto to be used for public security
Aimed at fighting organized crime groups, the new law allows confiscated assets including crypto to be used for ”police re-equipment, training, and special operations.”
Brazil’s public security agencies have a new weapon for fighting organized crime after national legislators approved a measure allowing them to use confiscated cryptocurrency in their efforts.
On Wednesday, Brazil’s legislative branch published Law No. 15.358, establishing a legal framework for combating organized crime. The law allows authorities to prohibit transactions on crypto exchanges by treating digital assets as instruments in a crime, and confiscate crypto to be used to fund public security.
“For the purposes of forfeiture of assets, any asset that has been used to commit a crime shall be considered an instrument of the crime, even if it was not intended exclusively for that purpose,” said a translation of the law, which included: