Brazil’s Judges Receive Crypto ‘Training,’ Minister Warns of ‘Gaps’ in Regulation
Brazilian federal judges have been receiving training on crypto-related matters – in an attempt to prepare the judiciary for an increase in crypto-related court cases.
At a meeting of federal judges held last week, which was arranged by the nation’s justice ministry, judges and magistrates were told to pay more attention to crypto market-related offenses – and an increase in crypto-related crime. The ministry told the judges to pay heed to the fact that Brazil’s crypto trading volumes have soared in recent years. Ten million Brazilians are thought to own cryptoassets, per some estimates.
The summit saw judges undergo “training” on crypto, and attend lectures on crypto-related topics. They were also told that as the crypto landscape continues to shift, high court magistrates needed to keep increasing their knowledge base, while bearing in mind that crypto regulation, for the most part, does not exist in Brazil.
As such, judicial rulings, which can have legal precedent, are key.
In an official Federal Justice Council (CJF) release, the head of the Superior Court of Justice (STJ) and the CJF, the STJ President Humberto Martins, was quoted as stating that “globalization” and the technological proficiency of organized criminals were leading to a spike in crypto-related crime.
Jorge Mussi, the Vice President of the STJ, was quoted as stating:
“The use of cryptocurrencies [….] without proper regulation generates concern for all those who are obliged to face this issue.”
Mussi also warned that there were “gaps” in regulations due to the slow progress of crypto-specific legislation.
Meanwhile, the Brazilian media outlet LiveCoins, quoting data from the cybersecurity provider ESET, reported that there has been a sharp rise in crypto scams
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