Jair Bolsonaro, former president of Brazil, was declared guilty of planning a coup along with several other serious positions. The Supreme Court sentenced him to more than 27 years in prison.
In his own capacities as a political leader, Bolsonaro had a marginal impact on Pro-Crypto regulatory policies. Even so, its fall could have important market implications.
Bolsonaro found guilty
Jair Bolsonaro, former president of Brazil and Trump’s ally, has been in the center of a massive scandal. After losing a choice in 2022, he tried to organize a coup d’etat. This incident led years of legal battles, but the Supreme Court of the Nation has finally failed in the case of Bolsonaro, finding it guilty.
“The Office of the Attorney General I have found that Jair Messias Bolsonaro committed the crimes he is accused as leader of the criminal organization,” said Cármen Lúcia, judge of the Supreme Federal Court of Brazil.
Bolsonaro was convicted of five positions: conspiring a coup d’etat, being a member of a criminal organization, violence against state institutions, damaging public property and trying to overthrow the rule of law by force.
He has been sentenced to 27 years and three months in prison for these crimes.
Possible market consequences
Although it has been a Trump ally, Bolsonaro is a much more marginal figure for the international cryptography community.
While he was in office, he supported some pieces of pro-Crypto legislation, but he never made him a key part of his policy or public statements. Since its dismissal, Bolsonaro has continued to exercise little interest in space.
However, this is a great moment in international politics, with possible implications for cryptography. For example, Javier Milei, another South American president and ally of Trump, faces his own legal battles. A guilt verdict for Bolsonaro could make Milei’s fall more likely, and he is a vocal cryptography supporter.
They could follow other unpredictable consequences. Even so, with regard to Brazil, Bolsonaro’s guilt verdict will not do much to prevent cryptographic progress. His successor has headed a series of friendly policies, including the world’s first ETF XRP. For now, investors may not need to worry.
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