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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