Brazilian court orders all brokers to sell cryptocurrencies to investors

A man with a debt of BRL 1,192 million is being charged in court, which has issued an injunction for all cryptocurrency exchanges in Brazil to sell their assets.

According to the decision, the man has a debt to a company after issuing a check. For example, goods and patrimony in his name have been actively sought by the company collecting the debt, through various means.

One of the tried and tested ways to block was the SISBAJUD, which proved fruitless. In other words, the man has no values ​​at banks and institutions reached by this judiciary, even though the search is still active.

All Cryptocurrency Exchanges in Brazil Must Sell Man’s Assets, Justice Says

In recent years, Brazil has seen a number of cases mentioning cryptocurrencies in court. Even without specific regulations, the cases are judged by the magistrates of the courts of the various agencies in the country.

And a situation that is more common in some decisions is the seizure and seizure of cryptocurrencies. This is because, already valued in Real, digital currencies can be considered in cases, mainly of foreclosure execution.

In this way, he drew attention to a decision by the So Paulo judiciary, which over the next 15 days ordered all cryptocurrency brokers in Brazil to sell a man’s assets.

I instruct all cryptocurrency brokers operating in Brazil to, within 15 days: a) proceed with the blocking and settlement of crypto-assets held by XXX, CPF No. XXX.XXX.XXX-XX; b) deposit the balance obtained into an account linked to this court. A copy of this decision, duly signed, is considered an official letter. It is the duty of the interested party to withdraw a printed copy within 15 days, forward it to the rightful claimant and prove that it has been filed in the records.

In addition to blocking cryptocurrencies, the Superintendence of Private Insurance (SUSEP) was also subpoenaed in the decision to disclose amounts found on behalf of the debtor, also within 15 days.

It is noteworthy in the decision that it is not clear whether the man is an investor in cryptocurrencies, but all companies in the market must inform the existence of assets and deposit the amount in Real in the court account.

Decision shows that cryptocurrencies are increasingly recognized in the country

In recent years, many brokers have had problems with banks, who claimed that the cryptocurrency market was illegal, as well as a high risk of the activities of these companies.

However, such decisions show that cryptocurrencies are already recognized, and it is clear that digital currencies are increasingly becoming legal as assets with real market value.

Source: Live Coins