“The law represents progress in combating organized crime, by incorporating mechanisms for financial strangulation and strengthening the state's capacity to respond to the growing complexity of these criminal structures,” said Brazil’s Minister of Justice and Public Security Wellington Lima, in a statement.
“The focus is on reaching their highest levels, with more effective instruments and coordinated action,” he added.
While the bill does not specifically mention any crypto assets by name, it allows judges to order precautionary measures like “seizure, attachment, blocking or freezing of movable and immovable property, rights and assets, including digital or virtual assets” in cases where there is sufficient evidence of a serious crime as defined in the law.
In certain cases, the judge may also be able to authorize the early sale of assets, with proceeds then flowing to public security funds.
Custody of seized assets based on precautionary measures will fall to the public authorities, except in cases where a judge determines “the material impossibility or technical inadequacy of custody by the public authorities is demonstrated.”
