Bitcoin Seized in Brazil Boosts Public Funds

Brazil’s New Law Targets Crypto in Organized Crime Crackdown

• President Luiz Inácio Lula da Silva signed Law No. 15,358, empowering judges to freeze and seize crypto assets linked to crime.
• The law allows asset forfeiture during investigations without convictions, converting seized assets into public funds.
• Article 9 enables immediate blocking of digital assets and transactions on crypto exchanges without notifying suspects.
• Approximately 6.5 million Brazilians invest in digital assets, with stablecoins like USDT and USDC making up about 90% of transaction volume.
• The legislation introduces new crimes with penalties ranging from 12 to 40 years for structured social domination activities.

The new Brazilian law enhances judicial powers over digital finance to combat organized crime, targeting the extensive use of cryptocurrencies like Bitcoin and stablecoins in illegal activities.