2022 – Brazil Establishes Crypto-Specific Investigative Unit – News Bitcoin News

The Prosecutor’s Office of the Federal District in the Mid-West region of Brazil has set up its own cryptocurrency investigative unit. The newly formed entity will focus its activities on assisting other prosecutors in cryptocurrency investigations and educating consumers on the safe use of cryptocurrencies.

Cryptocurrency crime unit established in Brazil

Cryptocurrency crimes have several characteristics that make them difficult to detect by traditional intelligence agencies. Because of this, some countries have already dedicated part of their budget to building up resources to fight these new technology crimes. Brazil, a country where numerous cryptocurrency-related scams have taken place, has officially announced the establishment of a cryptocurrency investigation unit.

Dubbed “Crypto,” this new entity will be set up by the country’s Federal District Attorney’s Office and will carry out its duties by helping prosecutors handle cryptocurrency cases. In the same way, the entity will target consumers of crypto products to warn and educate them about the safe use of cryptocurrency assets.

Frederico Meinberg, the unit coordinator and prosecutor, spoke about the training that Crypto unit agents must undergo. In an interview with Meinberg specified:

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 the agent ends up not knowing what to do with. That’s why we always focus on how agents interact with the ecosystem, starting with exchanges and peer-to-peer sellers.

Meinberg has not disclosed the number of agents that are part of the crypto entity for security reasons.

Brazilian Crypto Regulation

The establishment of the first cryptocurrency investigative unit follows the approval of the Cryptocurrency Act by the Congressional Senate in April. One of the goals of this bill is to curb crypto-related crimes in the country by defining a new type of crypto-related fraud and imposing prison sentences ranging from two to six years, depending on the crime.

Meinberg has said that due to the nature of these crimes, investigations into cryptocurrencies are more difficult than traditional ones. In this sense, he believes that the further development of these regulations could be of great help to prosecutors, since they could help to speed up procedures by creating specific protocols for this task.

What do you think of the establishment of a crypto-based investigative unit in Brazil? Tell us in the comment section below.

Sergio Göschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price surge took place in December 2017. He has a computer engineer background, lives in Venezuela and is socially impacted by the cryptocurrency boom. He offers a different take on crypto’s success and how it’s helping those who are unbanked and underserved.

photo credit: Shutterstock, Pixabay, WikiCommons

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