Brazil unveils crypto legislation for police and tax authorities

Brazil’s federal prosecution office is set to roll out a roadmap of activities that will grant the nation’s prosecutors, courts, and police officers powers to prosecute offenders and confiscate crypto.

Brazil to adjust crypto regulations

Ministério Público Federal (MPF), Brazil’s highest prosecution office, says it’s in the process of formulating provisions to allow for the seizure of cryptocurrencies and digital assets in Brazil.

Per the official announcement from the Attorney General, the nation’s Federal Public Ministry has laid out a ‘guide’ for prosecutors and law enforcers to empower them to make these seizures in an effort to curb crypto-related crimes, including crypto pyramid schemes and hacks.

The MPF held a meeting to that effect, where it presented the documents to its criminal chamber and special crypto units. In attendance were members of the Secretariat for Expertise, Research, and Analysis, representatives from the National Council of Justice, the Federal Police, and the nation’s tax agency.

The MPF highlighted that the new development is born out of the ‘growing relevance’ of crypto, particularly in the legal sphere.

It was reported that the final text of its guidelines would be sent to the Criminal Chamber in the coming days. The MPF also stressed the importance of quickly getting prompt feedback from the meeting attendees regarding the guidelines.

The MPF stated that the guidelines are the first step in their efforts to regulate crypto in the South American country. The prosecution office will also provide resources for prosecution officials to increase their knowledge of the workings of the crypto industry.

It will provide crypto-specific training sessions for MPF officials and law enforcement agents.