Brazilian Federal Police Raids 6 Crypto Exchanges in Money Laundering Investigation

1 week ago 15

CoinDesk - Unknown

Rodrigo Tolotti is a crypto editor at InfoMoney, a leading financial news publication in Brazil. He graduated in Journalism from Faculdade Cásper Líbero.

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

The Brazilian Federal Police began raids on six undisclosed crypto exchanges on Thursday in an investigation into tax evasion and money laundering involving the use of cryptocurrencies.

As part of Operation Colossus executed in conjunction with the Brazilian tax authority, the Federal Police is carrying out 101 warrants issued by a criminal court in São Paulo, according to an official police report. They include two arrest warrants and 37 search and seizure warrants.

In addition, the police ordered the freezing of roughly $238 million in assets and securities held by those under investigation, and they also seized an undisclosed amount of virtual assets held by 28 exchanges under investigation.

The investigations stemmed from a report conducted by Brazil's Financial Intelligence, which found suspicious bank activity linked to the trading of crypto assets. The alleged crimes occurred between 2017 and 2021, but according to the Brazilian police they are ongoing.

This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.


Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas.

By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.

DISCLOSURE

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in

cryptocurrencies

and blockchain

startups.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG

.

CoinDesk - Unknown

Rodrigo Tolotti is a crypto editor at InfoMoney, a leading financial news publication in Brazil. He graduated in Journalism from Faculdade Cásper Líbero.

CoinDesk - Unknown

Rodrigo Tolotti is a crypto editor at InfoMoney, a leading financial news publication in Brazil. He graduated in Journalism from Faculdade Cásper Líbero.

Read Entire Article