Brazil aims to tighten penalties for crypto-related financial crimes
The penalties are part of a new piece of legislation that also regulates crypto trading and payments. Brazilian lawmakers are working to provide stricter regulations for cryptocurrency-related crimes, approving a set of new penalties for laundering money with crypto.Brazil’s Special Committee of the Chamber of Deputies has approved a bill that significantly tightens penalties for financial crimes that employ cryptocurrencies like Bitcoin (BTC), according to an official announcement on Sept. 29.The latest regulatory amendments are part of bill 2303/15, increasing the size of the fines from....
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The public prosecution of the Federal District, located in the center-west region of Brazil, has launched its own cryptocurrency investigation unit. The newly formed unit will focus its activities on aiding other prosecutors in cryptocurrency investigations, and also educating consumers about the safe use of cryptocurrencies.
Cryptocurrency Crimes Unit Launched in Brazil
Cryptocurrency crimes have several traits that make them difficult to detect by traditional intelligence units. This is why some countries have already dedicated part of their budget to building resources to face....
The U.S. Financial Crimes Enforcement Network (FinCEN) has joined the list of international entities raising concerns over crypto aiding Russia to evade sanctions. The country was hit by unprecedented financial penalties after it invaded Ukraine. Related Reading | TikTok To Stop Livestream In Russia Over ‘Fake News’ – What Now, Russian Crypto TikTokers? In an […]
On Wednesday, September 27, Roberto Campos Neto, Brazil’s central bank governor, announced his intention to tighten crypto regulation. During his speech on Finance and Taxation at a Congress hearing, Campos Neto said virtual assets brokerages should be subject to strict supervision. Given Brazil’s significant increase in crypto adoption, the governor emphasized the need to heighten […]
All individuals and institutions in the country, including banks, will have to sign up using the new AML registry from the Bank of Spain. The central bank of Spain is introducing new registration guidelines for local virtual currency service providers, or VASPs, including banking institutions.The Bank of Spain has issued instructions on VASP registration for Anti-Money Laundering, or AML, purposes, requiring institutions to submit their registration requests through an electronic registry, Cointelegraph en Español reported on Monday.Issuing the guidelines on Oct. 19, the Spanish central....
New York State Senator Kevin Thomas, has proposed a bill that seeks to criminalize illegal crypto rug pulls. The lawmakers of New York state seemed to have been rubbed off the wrong way as it has been passing stringent signals to the crypto industry. The legislative amendment in concern proposes penalties for rug pulls and […]