Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Brazil’s Securities and Exchange Commission (CVM) on Friday approved the ability of mutual funds to add crypto assets to their holdings. In a statement, the regulator said the decision aims to allow funds to operate in the crypto space while maintaining controls over ‘s integrity and asset ownership.

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To be part of fund portfolios, CVM says crypto assets must meet a set of criteria that comply with a new regulatory framework laid out in a law that outgoing President Jair Bolsonaro enacted on Thursday, a fund if they traded in facilities authorized by the Central Bank of Brazil or by the CVM or, in the case of transactions abroad, by a local regulator, explains the new rule.

To be part of fund portfolios, CVM says crypto assets must meet a set of criteria that comply with a new regulatory framework laid out in a law that outgoing President Jair Bolsonaro enacted on Thursday, a fund if they traded in facilities authorized by the Central Bank of Brazil or by the CVM or, in the case of transactions abroad, by a local regulator, explains the new rule.

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