Specialized Investigation Unit For Crypto Crimes Launched by Brazil

Brazilian Cryptocurrency Bill Turns up Following General Election
  • The unit will alert and educate users about the dangers of using digital assets.
  • Meinberg did not reveal the number of agents in the crypto unit.

Traditional intelligence units have a tough time detecting crimes concerning cryptocurrency because of various distinguishing characteristics. As a result, several nations have already set aside funds to develop the necessary infrastructure to combat these emerging forms of cybercrime. Brazil, a nation with a long history of cryptocurrency-related frauds, has established an investigative team devoted only to the field.

Much-needed Investigation Team

The public prosecution office of the Federal District in the nation is creating a new section called “Crypto,” which will assist public prosecutors in dealing with cryptocurrency crimes. Similarly, the unit will alert and educate crypto product users about the dangers of using digital assets. The unit’s coordinator and public prosecutor, Frederico Meinberg, spoke about the training required by the Crypto unit’s agents.

Meinberg made the following statement:

“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. That is why we always focus on the interaction of agents with the ecosystem, starting with exchanges and peer-to-peer sellers.”

Due to security concerns, Meinberg did not reveal the number of agents in the crypto unit. One of the goals of this proposed legislation is to reduce crypto-related crimes in the nation by imposing sentences ranging from two to six years in jail, depending on the offense.

According to Meinberg, investigations into cryptocurrency crimes are more challenging than those into ordinary crimes because of the nature of the crimes themselves. According to him, the progress of these rules might be a huge assistance for public prosecution, as they could help speed up processes by setting particular norms for this purpose.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.