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Central Bank to replace Bacenjud with new system of blocking and targeting cryptocurrencies

Cryptocurrency

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The Central Bank (BC) announced the development of Sisbajud (Judicial Branch Asset Search System), a new money blocking system that will replace the current Bacen Jud. According to Valor Econômico, the electronic communication system between the Judiciary and financial institutions can also be used in the future to block cryptocurrencies.

As communicated by the BC on May 15, Sisbajud would enter the testing phase from the date of publication. The duration will be until the end of the year – new features are already inserted in the current platform.

“From the date of publication of this press release until the end of the current year, implementation tests and approval of the system under development will be carried out, using the approval system of the File Transmission System (STA)”, says the note.

According to the BC, during the testing phase, the new system will maintain Bacen Jud's layout and communication protocol. The reason is not to impact the process.

This is because the types of STA files and permissions used by the participating institutions for receiving and sending the files were included, so that migration between systems is transparent.

Central Bank and new Bacen Jud

According to Valor, the new system will rely on the “online attachment” to the electronic judicial process (PJe). As he explained, this will make it possible to automate blocking orders, unblocking and transferring funds to judicial accounts.

Last year alone, R $ 55.8 billion of debtors were blocked through Bacen Jud, the newspaper said.

Bacen Jud makes it possible for judicial authorities to forward requests for information and orders to block, unblock and transfer funds.

Other than that, it is possible to consult with clients of financial institutions, such as the existence of account balances, statements and addresses.

“During the tests, fictitious orders for blocking, unlocking, transferring and requesting information will be generated, which must be answered by the participating institutions. Similar to real orders, some fictitious court orders may specify an agency and / or account for blocking or requesting information, ”explained the BC.

Unlocking today is time consuming

As told Valor, lawyer Ricardo Amaral Siqueira said that one of the current problems is the delay in unlocking values, which would have to happen within 24 hours as determined by the Civil Procedure Code. According to him, this deadline is not met in about 80% of cases.

However, the assistant judge of the Presidency of the National Council of Justice (CNJ), Dayse Starling Motta, believes that this action should now happen more quickly.

According to her, today a judge needs to manually fill in all the information in the process, which takes time, but now the judge will receive all the information within the process and the unlocking will be faster.

Also according to Valor, the need for a new system came from the impossibility of the current one not supporting major innovations.

To make it feasible, he wrote, a technical cooperation agreement was closed at the end of 2019 between CNJ, the Central Bank and the Attorney General of the National Treasury.


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This source of this article is portaldobitcoin.com.

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