TechFlow News, March 27: According to Decrypt, Brazilian President Luiz Inácio Lula da Silva officially signed the “Anti-Gang Law” on Tuesday this week, authorizing judicial authorities to take preventive measures—including seizure, impoundment, and freezing—against digital assets (including Bitcoin and other virtual assets) of individuals involved in criminal activities, provided there is sufficient evidence of wrongdoing.
The law also permits judges to approve the early sale of confiscated assets under specific circumstances; proceeds from such sales will be allocated to the Public Security Fund. Custody of confiscated assets is, in principle, entrusted to public institutions; however, exceptions may be made if a judge determines that entrusting custody to a public institution would be “substantially impossible or technically inappropriate.”
Wellington Lima, Brazil’s Minister of Justice and Public Security, stated that by introducing financial suppression mechanisms, the law strengthens the nation’s capacity to combat organized crime, with a particular focus on targeting the core leadership of criminal organizations.
