Brazil will put the confiscated cryptocurrencies up for sale.

Brazilian Government Proposes Sale of Cryptocurrencies

The Brazilian government has proposed a law that would allow the sale of seized cryptocurrencies, such as Bitcoin, in order to dismantle the financial infrastructure of organized crime groups.

The proposed law is presented under the "anti-faction bill." With this new regulation, cryptocurrencies would be treated similarly to foreign currencies and financial securities.

Brazil's central bank is implementing new regulations requiring crypto companies to obtain licenses and maintain a certain capital reserve, and this move is part of a broader crackdown on organized crime in the country.