TechFlow, April 5 — According to Cointelegraph, Brazil's Superior Court of Justice Third Panel unanimously ruled that courts may seize debtors' cryptocurrency assets to repay creditors. Under the ruling, judges can now notify cryptocurrency exchanges to freeze account holders' assets for debt settlement.
In a memo published on its website, the Superior Court noted that although cryptocurrencies are not legal tender, they can serve as means of payment and stores of value. Judge Ricardo Villas Bôas Cueva stated that while Brazil currently lacks formal cryptocurrency regulation, certain bills have classified them as "digital representations of value."
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