Brazilian authorities step up crackdown on entities facilitating cryptocurrency money laundering

Brazil is strengthening measures to crack down on institutions that use cryptocurrency for financial crimes. Local media reported that the Brazilian Federal Police recently launched the Alcaceria operation, targeting financial operators who provide money laundering services to national criminal organizations. The operation was carried out in conjunction with the Federal Tax Office. The unnamed organizations targeted by the police are under investigation for money laundering, tax evasion, illegal financial institution operations, and the use of false documents.