THE USE OF CRYPTOCURRENCIES FOR MONEY LAUNDERING: THE PRACTICE OF HIDING VIRTUAL ASSETS TODAY

Abstract

Given the decentralized, pseudo-anonymous, and transnational nature of cryptoassets, which hinder traditional tracking and regulation, this research addresses the problem of how Brazil can enhance its prevention and repression mechanisms. The research question asks: how can Brazil face the challenges of combating money laundering through cryptocurrencies, considering their decentralized and anonymous nature that complicates tracking and regulation? The general objective questions the challenges faced by the Brazilian State in combating money laundering via cryptocurrencies, proposing regulatory measures and legal mechanisms for the effective prevention and tracking of these transactions. The specific objectives are to understand the concept of cryptocurrencies and the functioning of blockchain technology, determine the main money laundering techniques, such as "mixers," propose improvements to the Brazilian regulatory framework to enhance the fight against money laundering with cryptoassets, and evaluate international regulations, comparing them with Brazilian legislation. Regarding the methodology, it will be qualitative and descriptive-analytical, based on bibliographic, documentary, and legislative review.