Brazil proposes selling seized bitcoin to weaken organized crime networks

Jinse Finance reported that the Brazilian government has proposed legislation to allow the sale of seized cryptocurrencies (such as bitcoin) in order to dismantle the financial infrastructure of organized crime groups. The proposed law would treat cryptocurrencies as foreign currency and financial securities. This move is part of Brazil's broader efforts to combat organized crime. Meanwhile, the country's central bank is implementing new regulations requiring cryptocurrency companies to obtain licenses and hold capital reserves.