Brazilian lawmakers propose granting courts the power to freeze or confiscate cryptocurrency assets of suspects in cybercrime

Brazilian Federal Deputy Chrisóstomo de Moura has proposed a bill aimed at granting courts the power to freeze or confiscate cryptocurrency assets of suspects in cybercrime.

The bill allows judges to take preventive measures, either proactively or at the request of prosecutors, when dealing with fraud crimes, including freezing cryptocurrency wallets and traditional financial assets. The deputy stated that these preventive measures would help protect society and provide a strong tool for combating fraud. The bill also proposes the establishment of a "National Fraud Victims Compensation Fund" to provide immediate assistance to victims, addressing the slow process of civil compensation. Additionally, the deputy calls for harsher penalties for cybercriminals, including preventive detention and restrictions on citizens' access to cryptocurrency trading platforms used for criminal activities. The bill is currently under review by the committee, and it is expected to take some time to complete the final analysis.