Brazil is stepping up its crackdown on institutions that use cryptocurrencies to commit financial crimes. According to local media reports, the Brazilian Federal Police recently launched Operation Alcacaría, targeting some financial operators that provide money laundering services to criminal organizations across the country. The operation was carried out in conjunction with the Federal Tax Service. The unnamed organizations targeted by the police are being investigated for involvement in money laundering, tax evasion, illegal financial institution operations and the use of false documents.

#zachxbt