The Third Section of the Superior Court of Justice (STJ) decided that the jurisdiction to judge the alleged practice of crime involving the trading of virtual currency known as bitcoin is the State Court.

In the case records reviewed, two people, through a company, raised money from investors, offering fixed monthly gains, and acted to speculatively in the market of bitcoin, without authorization or prior record of the competent administrative authority.

For the full board, no evidence of federal jurisdiction was observed in the case under analysis, since the negotiation of cryptocoins has not yet been subject to regulation in the legal system.

According to the rapporteur Minister, Sebastião Reis Júnior, the suspects created a legal entity to obtain gains in the purchase and sale of cryptocoins, which is not recognized, regulated, supervised or authorized by institutions such as the Central Bank or Securities and Exchange Commission.

Considering this, the Rapporteur noted, the negotiation of bitcoin couldn't be investigated on the basis of the crimes envisaged by the federal law. "In fact, I understand that the conduct investigated not conform to the crimes provided for in article 7, II, of the Act nº7.492/1986 and in article 27-E, of the Act nº 6.385/1976, particularly because the cryptocoins, until then, are not regarded as currency or security," he said.