Brazil's lower house committee backs bill to freeze crypto of cyber fraud suspects, lifts maximum prison term to 10 years

Brazil's Chamber of Deputies Committee on Finance and Taxation (CFT) has approved a bill aimed at curbing cyber fraud, including provisions that would allow authorities to freeze cryptocurrency balances held by individuals under police investigation, ME News reported on June 13 (UTC+8). The proposal would amend relevant sections of the Criminal Code to raise penalties for cybercrime. Offenses carried out via social media or phone calls would face tougher punishment, while convictions for cyberattacks would carry prison terms of 6 to 10 years, up from the current 4 to 8 years. Under the bill, judges would be empowered to freeze suspects' assets held on Bitcoin exchanges and in bank accounts. Preventive measures outlined in the text also include freezing physical assets and restricting access to payment systems. The bill now moves to the Committee on Constitution and Justice (CCJ) for review, with the process expected to conclude in the coming days. (Source: ChainCatcher)