Brazil's Electoral Court Freezes Pro-Bitcoin Candidate's Campaign Funds

Brazil's top electoral court has suspended presidential candidate Renan Santos's digital campaign and frozen R$3.3 million (approximately $640,000 USD) in public funds.

The suspension was handed down on August 31 by Justice Dias Toffoli, who cited several reasons for the decision, including unpaid political ads on social media and undisclosed campaign profiles.

The court barred Santos and his running mate Aroldo Medina from participating in debates and ordered platforms to remove the 16 declared campaign profiles from recommendation algorithms or face a R$10,000 ($2,000 USD) per hour fine.

Santos had made headlines earlier this month by pledging to create a national Bitcoin reserve if elected.