• The Brazilian government is proposing a draft crypto „guide“ for prosecutors and law enforcers.
• The guide would give prosecutors, courts, and police officers new powers to confiscate crypto.
• There are organizations in the country such as the National Council of Justice, the Federal Police, and the nation’s tax agency that have been presented with the proposal.
Brazil to Grant Prosecutors, Police New Crypto Confiscation Powers
The Brazilian government looks set to grant the nation’s prosecutors, courts, and police officers new powers to confiscate cryptocurrencies. 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. Representatives from various organizations including the National Council of Justice, Federal Police and Tax Agency have seen this proposal.
Growing Relevance of Crypto in Legal Sphere
The MPF highlighted the „growing relevance“ of cryptocurrency in legal matters. It stated that it needs feedback on its guidelines from law enforcers, tax officials and prosecution officers as soon as possible so that it can finalize its text before sending it to its Criminal Chamber for approval soon.
Creating National Guidelines
The ministry suggested there was an urgent need to create national guidelines related to cryptocurrency transactions as they are becoming increasingly important in financial affairs. Deputy Attorney General Carlos Frederico Santos said that these guidelines will allow greater efficiency when prosecuting crimes involving cryptocurrencies.
Special Unit for Cryptoassets
Last year MPF founded a Special Unit for Cryptoassets which is responsible for investigating crypto-related crimes and studying crypto-related technology among other things. Central Bank also created a task force which is exploring regulating tokenization space within Brazil’s borders.
Training Sessions For Law Enforcement Agents
\Public Prosecutor Council created a working group last year whose main goal is training police officers and prosecutors on how handle cases related to cryptocurrencies more efficiently. They are also organizing compendiums which contain resources needed by prosecution officials who want better understanding of cryptocurrencies alongwith providing specialized training sessions on cryptosystems