Commission debate on changes to existing law in Brazil, digital coins should be included.
Brazil’s money laundering law (No. 9.613/1998) is expected to undergo further reform in 2020. At a meeting last Friday (6), a public prosecutor said he believed that the use of cryptomorks in these crimes of money laundering was an aggravating factor.
The crime of money laundering is a sensitive issue in Brazil today. With the FATF having made a number of recommendations in recent years, Brazil had already reformed the law in 2012.
In addition, the FATF will return in 2020 to talk about financial crime worldwide. These recommendations also reach Brazil, as well as a commission of jurists created by Congressman Rodrigo Maia.
When Maia called for a change in the law on money laundering, it was clear that the changes will include cryptomorphism.
Part of the national commission, a prosecutor believes that the use of cryptomorphs in money laundering crimes is an aggravating factor
Bitcoin is the world’s leading cryptomeda and the first to be launched. As an alternative to the traditional financial system, digital currency has been the subject of studies around the world.
In Brazil, for example, Bitcoin is not yet regulated, but the Bacen is already studying the subject. In addition, Bitcoin has been the subject of studies by a commission, which is studying changes in the Money Laundering Law.
At a meeting of the commission of lawyers who are due to submit proposals for revision of the law, the issue was commented on again last Friday. Members of the MP, BNDES, Febraban, among others, participated.
During the meeting, the regional public prosecutor, Bruno Calabrich, defended the increase of penalties. According to Calabrich, several crimes committed in Brazil today are tried only with minimum sentences, and maximum sentences are difficult to achieve.
Thus, the prosecutor argued that the penalties for crimes should be increased in specific cases. Calabrich then gave as an example the use of cryptomorphs for money laundering.
„When there is transnational money laundering. When there is money laundering with sophisticated means of laundering, as they are today (and tend to be more so) with the use of cryptomorphs. Then these crimes may deserve Bitcoin Trader even more serious repression,“ Calabrich said in his statement
Discussions for changes in the law still continue in committee of lawyers
The Money Laundering Law in Brazil is yet to be discussed. On the last Friday, the commission had opinions from members of the Public Prosecutor’s Office and the National Council of Justice (CNJ).
According to the Chamber’s agency, the commission’s representatives made it clear that there can be no setbacks in the fight against crime. Considered a white-collar crime, money laundering is cited as one of Brazil’s main problems today.
Some members of the commission believe that the debate is still delicate. This is because, with the FATF still conducting studies on financial crimes in Brazil, a possible change in the law today could be frowned upon internationally, Edson Garutti said.
Thus, the debates and reflections on the change in the law will still be under discussion for some time to come. In any case, it is clear that cryptomites should be cited in a possible change in the law on money laundering.