Brazil intensifies the fight against organized crime through crypto

We inform you about a new initiative: the government of Brazil has proposed a bill that allows the liquidation of confiscated crypto-assets (bitcoins and others) as a tool against the financial networks of organized crime.

Key points:

• Confiscated cryptocurrencies will be reclassified as foreign currency and securities.
• This is part of a large-scale anti-crime campaign
• Meanwhile, the Central Bank of Brazil is implementing new requirements: crypto companies need a license and reserve capitalization stocks.

Symbolically: states are increasingly involving the crypto-infrastructure itself to combat illegal capital flows. The question for discussion is how effectively this will work against well-laundering operations?