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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LBank welcomes Nigeria’s push to recognize crypto as investment capitalNigeria has put forward a significant legislation design that will further facilitate cryptocurrency adoption in the country with over 200 million inhabitants. Why does this matter? If the Investments and Securities Act, 2007 (Amendment) Bill passes, the Nigerian securities and exchange commission (SEC) will recognize cryptocurrencies and other digital assets as capital for investment. Babangida […]
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