Brazil Creates a Crypto-Dedicated Investigation Unit
The new cryptocurrency investigation unit created to help prosecutors deal with crypto-scam cases.
Brazil is a country where crypto-related scams have been on the upside recently.
The new cryptocurrency investigation unit, denominated “Crypto”, has been created by the public prosecution office of Brazil’s Federal District and will have the function of performing its “watchdog” and investigative duties by helping prosecutors deal with crypto-scam cases. The unit will also have the task of warning and educating cryptocurrency consumers about the safe use and movement of their digital assets, especially in cases where investors are just entering the crypto context.
Many countries have already decided to dedicate a part of their budget towards resources that will go towards facing these innovative tech crimes. Crypto crimes also have the unique trait that they are not easy to detect by traditional intelligence units, as the softwares and blockchains used in these crimes are not a part of these traditional unit’s areas of expertise.
Brazil is a country where numerous crypto-related scams have already occurred. The establishment of the unit follows the approval of the cryptocurrency bill by the Senate in April, which has as one of its goals that of curbing crypto-related crimes by attempting to define a new kind of crypto-related frauds