Brazilian court authorizes seizure of cryptocurrency for debt settlement

According to Cointelegraph, the 3rd Collegiate Chamber of the Brazilian High Court has unanimously ruled that the court can seize the debtor's cryptocurrency assets to repay creditors. According to the ruling, judges can now issue a notice to cryptocurrency exchanges to request the seizure of the account holder's assets for debt settlement.
The high court noted in a memo posted on its website that although cryptocurrencies are not legal tender, they can serve as a means of payment and store of value. Judge Ricardo Villas Bôas Cueva said that while there is currently a lack of formal regulation of cryptocurrencies in Brazil, certain acts have recognized them as "digital expressions of value."