Lula

BRICS

2026-07-08 16:20:15

BRICS Trade Currency Debate Returns as Lula Revives Push Despite Trump Tariff Threat

At the 2025 BRICS summit in Rio, Brazil’s President Lula revived calls for a BRICS trade currency. The report argues that bloc expansion, sanctions risk, and de-dollarization pressures could make such a launch increasingly likely despite U.S. tariff threats.

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Brazil

2026-07-02 04:20:14

Brazil Passes Law Turning Seized Crypto into Public-Security War Chest; Also Explores Bitcoin Strategic Reserve

Brazil has enacted Law No. 15.358, signed by President Luiz Inácio Lula da Silva, granting law enforcement unprecedented powers to freeze, block, and seize crypto and other digital assets during investigations. The law allows provisional use of seized crypto (with judicial approval) to fund police operations, intelligence work, and officer training even before convictions. It targets ultraviolent criminal organizations, paramilitary groups, and private militias, increasing penalties for controlling territories, obstructing police, and using encrypted messaging apps. Authorities can suspend access to exchanges and wallets during investigations. The law also facilitates international cooperation for asset recovery and establishes a national criminal database. Separately, in February 2026, Brazilian lawmakers reintroduced a bill to create a Strategic Sovereign Bitcoin Reserve (RESBit), aiming to acquire 1 million bitcoins over five years, allow tax payments in Bitcoin, and prohibit selling seized bitcoins. Additionally, French utility Engie is considering adding battery storage or Bitcoin mining data centers at its 895-MW Assu Sol solar plant in northeast Brazil to offset curtailment losses.

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Brazil

2026-07-02 04:00:14

Brazil Enacts Law to Use Seized Crypto for Public Security and Advances Strategic Bitcoin Reserve

Brazilian President Luiz Inácio Lula da Silva signed Law No. 15.358, authorizing law enforcement to freeze, seize, and provisionally use confiscated cryptoassets, even before final convictions, to fund police operations, intelligence work, and officer training, targeting violent criminal organizations, paramilitary groups, and private militias. The law broadens the definition of crimes, increases penalties for obstructing police or using encrypted communication tools, and allows authorities to suspend access to exchanges and digital wallets. It also establishes a national criminal database and facilitates international cooperation for asset recovery. Separately, in February 2026, lawmakers reintroduced a bill to create a Strategic Sovereign Bitcoin Reserve (RESBit) aiming to gradually acquire one million bitcoins over five years, prohibiting the sale of seized bitcoins, allowing tax payments in Bitcoin, and encouraging public companies to mine and store Bitcoin. French utility Engie is considering adding battery storage or Bitcoin mining data centers at its 895-MW Assu Sol solar plant in Brazil to offset curtailment losses.

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