Brazilian law enforcement authorities started last week checking the work of six cryptocurrency exchanges as part of a money laundering investigation.
According to the authorities of the country, digital currencies could be used by individuals and companies to legalize criminal proceeds and evade before paying taxes. The searches were carried out by members of the Federal Police and the Tax Administration.
Law enforcement officers with the sanction of the criminal court of Sao Paulo froze $238 million in digital assets.
Data on the criminal use of cryptocurrency was obtained by financial intelligence, which found out that from 2017 to 2021, funds that could be involved in criminal schemes passed through the exchanges.
