Regulated investment funds can invest directly in cryptocurrencies concluded Spain’s financial regulator in its latest clarification.
Comisión Nacional del Mercado de Valores (CNMV) – an agency regulating Spain’s securities – stated its position in a Q&A document for fintech industry. Replying to a question about a CNMV-registered funds’ ability to invest in cryptos the commission quoted a previous regulation (Law 22/2014) which allows for such investments.
However, the commission pointed to some practical problems such as compliance with the valuation of assets regulations, liquidity management an guarantee of custody.Tags: CNMV, Cryptos, Spain
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