Lula Government Considers New Program to Monitor Crypto Exchanges
The Brazilian government, under President Lula, is reportedly developing a new program called “Brasil Seguro” (Safe Brazil). This initiative could significantly expand the monitoring of financial institutions, including cryptocurrency exchanges and fintech companies. The information was initially reported by Ancelmo Gois in his column in O Globo.
The impetus for this new task force appears to be the recent cyberattack on C&M Software, which resulted in the theft of at least R$ 1 billion from various financial accounts. The government is concerned about the increasing frequency of hacker attacks and cyber fraud.
The proposed “Brasil Seguro” program would involve collaboration between several key entities, including the Federal Police, the Central Bank of Brazil, BNDES (Brazilian Development Bank), and the Brazilian Federation of Banks (Febraban). The goal is to collectively prevent the rise of fraud in the country.
As of now, no government agency or Febraban has officially commented on the veracity of the rumored program.
Crypto Exchanges Under Scrutiny
Since the attack on C&M Software (CMSW) on June 28, 2025, the cryptocurrency market has been on high alert for suspicious financial activity. Criminals involved in the theft reportedly attempted to launder money through cryptocurrencies. Consequently, exchanges and P2P Bitcoin vendors have begun blocking transactions involving unusually large volumes or new clients.
Several companies under investigation have expressed their willingness to cooperate with authorities. The potential creation of “Brasil Seguro” suggests that the hacker attack, which targeted accounts linked to the Central Bank of Brazil, has prompted increased surveillance of companies in the crypto sector.
The Central Bank is expected to release regulations related to Law 14.478/2022 in the second half of 2025. This means the crypto market could face stricter operational restrictions, either through this law or the new program involving multiple institutions.
The Federal Police did not respond to requests for comment, directing inquiries to the Federal Government. Other institutions have yet to respond.
Compliance is Key, Says Lawyer
Raphael Souza, a lawyer specializing in cryptocurrencies, emphasized the importance of compliance for companies operating in the crypto market following the C&M Software attack. “Anyone receiving funds via Pix (Brazilian instant payment system) linked to the theft could face criminal charges,” he stated.
According to Souza, the more information a company has about its clients, the better it can protect itself from potential involvement in criminal activities.
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