A Major Economy Plans to Sell All the Bitcoin and Altcoins It Has Seized – Here Are the Details
The Brazilian government has introduced a bill that would allow the sale of Bitcoin and other crypto assets seized during criminal investigations, in a new step in the fight against organized crime.
Bill 5.582/2025, submitted to Congress by President Luiz Inácio Lula da Silva, authorizes financial institutions to liquidate cryptocurrencies before the conclusion of a case. This would be done in the same manner as is currently applied to foreign currency, checks, and securities. However, it is not yet clear what will happen to these assets if the defendants are later acquitted.
Authorities stated that the move targets the financial resources of criminal organizations, explaining that the bill is part of an “anti-faction bill” package. The bill aims to amend Brazil's Criminal Procedure Code and organized crime laws to undermine the financial infrastructure of groups like Comando Vermelho, one of the country's most powerful gangs.
This development parallels crypto regulatory reforms being implemented by the Brazilian Central Bank. The central bank announced new regulations that will take effect in February. Under these regulations, crypto companies operating in the country must obtain a license and hold capital reserves between 10.8 million and 37.2 million reais (approximately $2 million to $7 million).
The new rules bring cryptocurrency activities under the country's foreign exchange and capital markets laws. They also impose reporting requirements for international transactions, stablecoin payments, and transfers to personal wallets. Each foreign currency transaction will have a $100,000 cap.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Updates Today: DeFi's Quest for Stability: Is It Buterin's Dream or a Traditional Finance Trap?
- Ethereum co-founder Vitalik Buterin declares DeFi "finally viable" as a savings tool, citing improved security and maturity since 2019-2020. - He advocates "low-risk DeFi" as Ethereum's foundation, comparing it to Google Search's role in Alphabet's dominance. - Institutional confidence grows with ARK Invest's ETH exposure and whale accumulations, while TVL declines and legal uncertainties persist. - Critics warn stability-focused DeFi risks becoming a "TradFi Trojan horse," stifling innovation despite bu
Bitcoin News Today: Bitcoin Faces $108K Test: Surge Ahead or Setback?
- Bitcoin hovers near $104.5K with technical indicators signaling potential breakout above $108K, driven by ETF inflows and reduced miner selling pressure. - AlphaPepe (ALPE) attracts 3,500+ holders via BNB Chain presale, offering staking rewards and 10% referral incentives amid SHIB holders' search for high-potential meme tokens. - Shiba Inu expands utility through telecom node partnerships, enabling SHIB-based payments and rewards, aiming to solidify real-world adoption beyond speculative trading. - Cana
Boring Co.'s Hazardous Tunnels Face Off Against OSHA's Weak Oversight
- The Boring Co. was fined $500K for illegally dumping toxic drilling fluids in Las Vegas, damaging infrastructure and raising health risks. - Nevada OSHA faced scrutiny over withdrawn citations due to procedural errors and missing records, sparking transparency concerns. - The Governor’s Office denied political interference but deleted a meeting record, deepening skepticism about regulatory independence. - Repeated environmental and safety violations highlight ongoing regulatory challenges for the Boring
Boring Co. Penalties Highlight the Challenge of Balancing Safety with Innovation
- The Boring Company faces a $493,297 fine for illegally dumping toxic drilling fluids into Las Vegas manholes, marking the largest penalty in Nevada's CCWRD history. - Nevada OSHA withdrew 2023 safety citations after legal review, citing unmet requirements for valid violations, raising concerns about regulatory enforcement consistency. - Critics highlight political pressure risks and legal loopholes, including Anti-SLAPP law tactics, that could hinder future accountability for high-profile tech ventures.
Trending news
MoreCrypto prices
More
