Brazilian judges now have the authority to seize crypto assets of debtors who are behind on payments, highlighting the recognition of digital assets as a form of payment and a store of value.
Local media report that the Third Panel of Brazil's Superior Court of Justice unanimously authorized judges to notify cryptocurrency brokers of their intention to seize an account holder's assets to pay debts.
The Superior Court of Justice confirmed this decision through a notice on its website.
The unanimous decision of the Third Chamber came after examining a creditor's case.