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The public prosecutor’s office in the federal district, located in the center-west region of Brazil, has launched its own cryptocurrency investigation unit. The newly created unit will focus its activities on assisting other prosecutors in cryptocurrency investigation, and also educate consumers on the safe use of cryptocurrency.
Cryptocurrency crimes have several features that make them difficult to detect by traditional intelligence services. This is why some countries have already dedicated parts of their budgets to building resources to meet these new technology crimes. Brazil, a country where a number of cryptocurrency-related scams have taken place, has officially reported the launch of a cryptocurrency-dedicated investigation unit.
This new entity, called “Crypto”, is being created by the prosecuting authority in the federal district of the country, and will perform its tasks by assisting public prosecutors in handling cryptocurrency cases. Similarly, the entity will target consumers of cryptocurrencies to warn and educate them about the safe use of cryptocurrency assets.
Frederico Meinberg, the unit’s coordinator and public prosecutor, spoke about the training that the agents in the Crypto unit must follow. In an interview, Meinberg stated:
The best training for an agent who works with digital assets is to interact with the market. Without practice, we can offer the best tools that the agent ultimately does not know what to do with. That’s why we always focus on the interaction between agents and the ecosystem, starting with exchanges and peer-to-peer sellers.
Meinberg did not disclose the number of agents that are part of the crypto unit due to security reasons.
The establishment of the first cryptocurrency-dedicated investigative unit comes on the heels of the approval of the cryptocurrency bill by the Senate before Congress in April. This proposed bill has, among other goals, the goal of curbing crypto-related crimes in the country by defining a new type of crypto-related fraud and imposing penalties of imprisonment from two to six years, depending on the crime.
Meinberg has said that because of the nature of these crimes, cryptocurrency surveys are more difficult than traditional ones. In this sense, he believes that the promotion of these regulations can be of great help to the prosecuting authority, because it can help speed up the procedures by establishing specific protocols for this task.
What do you think about the establishment of a crypto-based investigation unit in Brazil? Tell us in the comments section below.
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