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Brazil signs the "Anti-Gang Law," authorizing the confiscation of Bitcoin and other digital assets for public safety
Deep Tide TechFlow News, March 27 — According to Decrypt, Brazilian President Luiz Inácio Lula da Silva officially signed the “Anti-Gang Law” this Tuesday, authorizing judicial authorities to take preventive measures such as sealing, seizing, and freezing digital assets (including virtual assets like Bitcoin) of involved individuals when there is sufficient evidence of crime.
The law also allows judges to approve the early sale of confiscated assets under certain circumstances, with the proceeds allocated to the Public Safety Fund. The custody of confiscated assets is generally handled by public agencies, but if a judge determines that there is a “substantial impossibility or technical unsuitability” for the public agency, exceptions can be made.
Wellington Lima, Brazil’s Minister of Justice and Public Security, stated that the law introduces a financial pressure mechanism to strengthen the country’s ability to combat organized crime, focusing on targeting the core levels of criminal organizations.