Brazil to Grant Prosecutors, Police New Crypto Confiscation Powers

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023

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The Brazilian government looks set to grant the nation’s prosecutors, courts, and police officers new powers to confiscate crypto.

According to an official release from the Attorney General, the nation’s Federal Public Ministry (MPF) has prepared a draft crypto “guide” for prosecutors and law enforcers.

The MPF presented the document to its own Criminal Chamber and dedicated crypto units late last week. Representatives from the National Council of Justice, the Federal Police, and the nation’s tax agency also saw the proposal.

The MPF highlighted the “growing relevance” of crypto, particularly in the legal sphere.

And the ministry appears keen to get feedback from law enforcers, tax officials, and prosecution officers as soon as possible.

It stated that the “final text” of its guidelines “will be sent” to the Criminal Chamber “in the coming days.”

The chamber oversees the nation’s prosecution service. And that means that if it green-lights the proposal, the guidelines could immediately be adopted by prosecutors investigating crypto-related cases.

The Attorney General suggested that there was “an urgent need to create national guidelines.”

The Deputy Attorney General, Carlos Frederico Santos, was quoted as stating:

“The guidelines will allow for greater efficiency in the prosecution of crimes involving cryptoassets.”

The MPF is also preparing a compendium of resources for prosecution officials who need to boost their comprehension of cryptoassets. It will also provide crypto-specific training sessions for MPF officials and law enforcement agents.

Crypto Confiscation Powers: Brazil’s Latest Effort to Control Crypto

In November last year, the public prosecutors’ council created a crypto regulations working group. This group has been tasked with training police officers and prosecution officials. Its masterminds want to help officers fight crypto scams and crypto-powered corruption.

The MPF also founded a Special Unit for Cryptoassets last year. This unit has been tasked with investigating crypto crimes, studying crypto-related technology, and determining crypto’s impact in the legal sphere.

The central bank has also launched a similar task force, as it explores the possibility of regulating the tokenizaton space.