Brazilian Investment Funds authorized to indirectly invest in cryptos

Brazil South America

Brazilian investment funds have been authorized to indirectly invest in cryptocurrencies by Comissão de Valores Mobiliários (CVM), the country’s securities regulator Brazil’s.

The news comes from a Finance Ministry of Brazil circular which states that funds can invest in “other assets” traded in other jurisdictions, which effectively means authorization of investment into funds with cryptocurrencies in their portfolios.

The circular points out that only regulated exchanges should be used to perform those investments due to a risk of fraud and illegal activities. It also suggests precautions should be undertaken before an investment in cryptos is made.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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