According to ChainCatcher, citing a Livecoins report, the Finance and Taxation Committee (CFT) of Brazil’s Chamber of Deputies has approved a bill designed to punish cyber fraud. The proposal authorizes the freezing of cryptocurrency balances belonging to individuals who are under police investigation, and it also seeks to amend relevant provisions of the Criminal Code to increase penalties for cyber criminals.
Under the bill, crimes carried out through social media or by telephone would face harsher punishment. Individuals convicted of cyberattacks would receive prison sentences of 6 to 10 years, compared with the previous range of 4 to 8 years. The proposal also gives judges the authority to freeze assets held by suspects in Bitcoin exchanges and bank accounts.
The preventive measures described in the bill include freezing physical assets and prohibiting access to payment systems. Following approval by the CFT, the bill will next be submitted to the Constitution and Justice Committee (CCJ) for review, with the process expected to be completed in the coming days.