Brazil Creates Dedicated Crypto Investigation Unit

Brazil Creates Dedicated Crypto Investigation Unit

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The Public Ministry of the Federal District, located in the central-western region of Brazil, has launched its own cryptocurrency investigation unit. The newly formed unit will focus its activities on assisting other prosecutors with cryptocurrency investigations, as well as educating consumers on the safe use of cryptocurrencies.

Launch of the Cryptocurrency Crimes Unit in Brazil

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Cryptocurrency crimes have several characteristics that make them difficult for traditional intelligence units to detect. This is why some countries have already dedicated part of their budget to building up resources to deal with these new technological crimes. Brazil, a country where many cryptocurrency-related scams have occurred, has officially announced the launch of a dedicated cryptocurrency investigation unit.

This new unit, dubbed “Crypto,” is being established by the country’s Federal District Prosecution Service and will perform its duties by assisting prosecutors in handling cryptocurrency cases. Similarly, the unit will target consumers of crypto products to warn and educate them about the safe use of cryptocurrency assets.

Frederico Meinberg, the Unit Coordinator and District Attorney, discussed the training that Crypto Unit agents must undergo. In an interview, Meinberg said:

The best training for an agent dealing with digital assets is to interact with the market. Without practice, we can offer the best tools that, in the end, the agent will not know what to do with. This is why we always focus on agent interaction with the ecosystem, starting with exchanges and peer-to-peer sellers.

Meinberg did not disclose the number of agents in the cryptography unit for security reasons.

Brazilian crypto regulations

The creation of the first dedicated cryptocurrency investigative unit follows the approval of the Cryptocurrency Bill by the Congressional Senate in April. This bill has, among other objectives, that of combating crypto-related crimes in the country by defining a new type of crypto-related fraud and imposing prison sentences of two to six years, depending on the crime.

Meinberg said that due to the nature of these crimes, cryptocurrency investigations are more difficult than traditional investigations. In this sense, he believes that the advancement of these regulations could be of great help to the Public Ministry, since they could contribute to speeding up the procedures by establishing specific protocols for this task.

What do you think of the creation of a crypto-based investigation unit in Brazil? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price surge happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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