Brazil allows investment funds to invest in cryptocurrency, details inside

The Brazilian Securities and Exchange Commission approved the ability for investment funds to hold crypto assets.

According to the CVM, crypto assets must meet a set of criteria established by a new regulatory framework established in a law enacted by outgoing Brazilian President Jair Bolsonaro so that they can be included in fund portfolios. Crypto assets must meet a set of criteria in order to be included in a portfolio, which is in line with the regulatory framework for the sector approved by President Bolsonaro yesterday.Crypto assets can be included in a fund if they are traded in entities authorized by the Brazilian central bank or the CVM, or by a local supervisor in the case of operations in another country.

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