Brazil enacts new law to convert seized crypto into public funds

Brazil has enacted Law No. 15,358, granting judges the authority to freeze, seize, and forfeit crypto assets connected to criminal organizations. This law, known as the Raul Jungmann Law, enables authorities to take these measures even before a conviction, converting seized assets into public funds for law enforcement. President Lula da Silva emphasized the law’s potential to target “crime magnates.” A key aspect of the law is its focus on digital finance, allowing for the immediate blocking of digital assets and Pix transfers without notifying suspects. The law also establishes stricter penalties for organized crime, including new crimes like 'structured social domination' with lengthy prison sentences, and expands asset seizure powers. With approximately 6.5 million Brazilians actively investing in digital assets, particularly stablecoins, authorities aim to curb money laundering and the growing threat of crypto-related crime, which includes scams and ransomware.

(Source：Crypto Briefing)