According to IBTIMES, Brazilian Federal Police carried out nine search warrants simultaneously in multiple locations, including São Paulo, Ribeirão Preto, Aralquigari Port, and Canoas, aiming to crack down on an illegal money-laundering network built on 87 shell companies. The operation was dubbed “Operation Veil of Maya.” The implicated organization used cryptocurrencies to quickly move proceeds from illegal gambling overseas to evade regulation. Earlier on July 5, Brazilian Federal Police also launched the “Exchange” operation, dismantling a crypto money-laundering group linked to Brazil’s large criminal organization PCC, with an amount involved of about $2 billion. At present, Brazilian regulators are stepping up efforts to target unauthorized gambling and prediction markets, including shutting down illegal online casinos and unlicensed prediction markets, and imposing strict oversight on funds held by offshore platforms.