The Brazil government wants to give the country’s police, prosecutors, and courts new authority to seize cryptocurrency.
The federal prosecutor’s office in Brazil is getting ready to release a schedule of events that will give the country’s judges, police, and prosecutors the authority to try criminals and seize cryptocurrency.
Brazil’s top prosecutor’s office, Ministério Pblico Federal (MPF), claims to be drafting regulations to permit the seizure of digital assets and cryptocurrencies there.
The nation’s Federal Public Ministry has established a “guide” for prosecutors and law enforcement to enable them to undertake these seizures in an effort to stop crypto-related crimes, including crypto hacking and crypto pyramid schemes, according to the official announcement from the Attorney General.
In order to do so, the MPF called a meeting where it gave the documents to its criminal chamber and special crypto sections. Members of the Secretariat for Expertise, Research, and Analysis, as well as officials from the Federal Police, National Council of Justice, and the country’s tax authority, were present.
The MPF emphasized that the new development is the result of cryptocurrency’s “increasing relevance,” notably in the legal sector.It was said that the Criminal Chamber would receive the guidelines’ final draft in the upcoming days.
The MPF emphasized the need for fast response on the guidelines from those in attendance at the meeting. According to the MPF, the rules represent the initial phase of their efforts to legislate cryptocurrency in the South American nation.
The prosecution office will also give resources to prosecution authorities so they may learn more about how the cryptocurrency sector operates. Sessions on crypto-specific training will be made available for MPF employees and law enforcement personnel.
