Brazil decree assigns SPA role in defining illegal betting market
A decree signed by President Luiz Inácio Lula da Silva on 19 June assigns Brazil’s Secretariat of Prizes and Bets responsibility for defining the illegal betting market, deputy secretary Fabio Macorin said. The rules require financial institutions to block funds linked to suspicious sites, with seized amounts directed to the National Public Security Fund. Macorin said tax authorities could hold non-compliant institutions jointly liable for taxes owed on bets by illegal operators.
The decree sets out financial-blocking obligations that could affect institutions processing payments linked to unlicensed betting sites.