The Brazilian Court authorizes the crypto seed for debt collection – report

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The Brazilian Court authorizes the crypto seed for debt collection - report

Brazilian judges are authorized to confiscate the cryptocurrency of property from the debtors who owe money and lagging behind their payments, signaling growing recognition that digital means can also be a form of payment and values.

According to local media reportsThe third panel of the Supreme Court of Justice Brazil, unanimously authorized the Judges to send letters with cryptocurrency brokers to use their account owners to return the funds to merge accounts.

The report was confirmed by the Superior Court of Justice, which issued a notice on its site.

The decision reached a unanimous third panel, which re-examined the case entrusted by the creditor.

“Although not legal offer, the CRIPTO property can be used as a form of payment and as a value store,” Tribunal version of the Court read the Memorandum of the note.

According to the existing rules, Brazilian judges are allowed to freeze bank accounts and withdrawal of the Fund, even without the knowledge of the debtor, if they rule the creditor owes money.

After a recent decision, the CRIPTO assets are now located the same way.

Minister Ricardo Villas Boas Cueva, which voted in the five-person panel, said cryptocurries still do not have a formal regulation in Brazil, but they have noticed that certain accounts recognized the property class as “digital value representation”.

Despite the regulatory insecurity, Brazil is the main hub for crypto

Although Brazil still lacks a general framework for digital property, with the central land bank transmission Regulatory processes in phase, Cripto adoption increases across the country.

Brazil is in second place among all Latin American countries in terms of “CRIPTO values”, which is a key reference value for adoption, in accordance with the October Sprocket Report.

Earlier this year, she was a crypto birna plant Approved approval for work in the country After gaining the investment company in Sao Paulo.

The CEO for Bynance said at the time of cointelegraph at the time when Brazil “took significantly” in regulating the industry and expected to complete the comprehensive framework “until the middle of the year.”

However, not all Brazilian regulatory proposals were favorable for the industry.

In December, the Central Bank of Earth SUGGESTED BANKS STABLECOIN TRANSACTIONS On self-detention wallets at a time when multiple locals used tokens streets to mitigate dollars to protect against the devaluation of Brazilian law.

The industry observers told Concelegraph, that such a ban would be difficult.

“Governments can regulate centralized exchange, but P2P transactions and decentralized platforms are much harder to control, which means that the ban is likely to influence part of the ecosystem,” Lucien Bourdon, analyst, said.