The Supreme Court of Brazil's Third Chamber ruled that the court can seize Crypto Assets to repay creditors.

PANews, April 5 - According to a report by Cointelegraph citing local media, the Third Chamber of the Superior Court of Brazil unanimously authorized judges to send letters to cryptocurrency brokers informing them of their intention to seize the assets of account holders to repay creditors. “Although crypto assets are not legal tender, they can be used as a means of payment and store of value.” According to existing regulations, if Brazilian judges determine that creditors are owed money, they have the right to freeze bank accounts and order the withdrawal of funds, even without the knowledge of the debtor. According to the recent decision, crypto assets now fall under the same jurisdiction.