Brazil Allows Investment Funds to Invest in Crypto
Sponsored
Sponsored
The Brazilian Securities and Exchange Commission (CVM) on Friday approved investment funds to hold crypto assets. On December 23, the Brazilian CVM approved the ability for investment funds to hold cryptocurrency assets. According to the regulator, funds will be allowed to operate in the crypto sector while paying attention to controls related to integrity and ownership of the assets. The approval is however subject to a set of criteria established by a new regulatory framework that was enacted into law by outgoing President Jair Bolsonaro. Brazil Signs Crypto Regulation into Law On Thursday, the Brazilian president approved a crypto regulation
Brazil approves bitcoin and other cryptocurrencies as means of payment and prepares the ground for licensing crypto companies. According to the Brazilian federal government’s official journal, Brazilian president Jair Bolsonaro approved a bill into law on Dec. 23. President Bolsonaro implemented the legislation passed by Congress without any changes. The…