Brazilian federal police launched a "crypto money laundering" operation involving over 2.7 billion reais.

PANews reported on December 15 that Brazilian federal police recently launched "Operation Kryptolaundry" in the Federal District to crack down on criminal networks involved in illegal fundraising and money laundering through crypto assets. The operation resulted in 24 search warrants and 9 preventative arrests, involving 45 individuals and businesses, with funds totaling 2.7 billion reais (approximately US$500 million), of which 404 million reais were identified as illicit proceeds. The court has ordered the freezing of up to 685 million reais in assets and the seizure of related real estate. Those investigated may face charges of financial crime, money laundering, and organized crime.