Key Takeaways:
Brazil’s Federal Police seized $14M in illicit crypto, marking a 6x increase from the numbers in 2024.Chainalysis notes this $14M is a tiny fraction of the $100B in crypto circulating within Brazil’s market.To fix these flaws, the Central Bank of Brazil relies on Resolution BCB 520 to restrict future market crimes.Chainalysis’s commercial director, Drey Dias, stated that the Brazilian system still faces challenges in digital assets’ investigations. This causes problems when flagging wallets involved in these cases. “The secrecy surrounding investigations on the subject also hinders this work,” he concluded.
Last year, the Central Bank of Brazil issued Resolution BCB 520, which tightened the requirements for virtual asset service providers regarding anti-money laundering and counter-terrorism financing measures.
