Thu. Oct 28th, 2021

    Brazil aims to tighten penalties for crypto-related financial crimes

    Brazil’s Special Committee of the Chamber of Deputies has approved a bill that significantly tightens penalties for financial crimes that employ cryptocurrencies like Bitcoin (BTC).
    The latest regulatory amendments are part of bill 2303/15, increasing the size of the fines from one-third of the amount of laundered money to two-thirds. The bill also proposes to raise minimum prison terms from three to four years, and increase maximum prison time from 10 years to 16 years and eight months, in addition to a fine.
    According to the announcement, the bill is subject to further discussions by the Chamber’s Plenary.