Brazilian Association of Cryptoeconomics denies involvement in protest rallies

Brazilian authorities launched an investigation into the events on January 8, when thousands of supporters of ex-president Jair Bolsonaro stormed the Congress, the Supreme Court and the presidential palace, and then seized the offices of some state institutions. Brazilian authorities vow to punish Bolsonaro supporters and those who financed them. Some members of the local crypto industry came under suspicion. In its appeal, the Brazilian Association of Cryptoeconomics (ABCripto), which is an association of cryptocurrency companies, rejected the suspicions of law enforcement and stated that it “protects the legality of public and democratic demonstrations”. But representatives of the association stressed that they do not confuse “freedom of expression and protests with fanaticism, vandalism and any kind of violence.” ABCripto insists on bringing to justice those involved in financing the participants in the terrorist attack on government facilities, “because these actions are contrary to the mission and values of the organization.” At the end of December, the Brazilian Chamber of Deputies approved a bill that would legalize the use of digital currencies as a payment method.. The document does not provide for the use of crypto assets as an official means of payment in the country along with fiat national currency, however, it defines many digital currencies as a legal means of payment.