CVM banned Brazilian investment funds to use crypto currency The regulator of Brazil on securities announced that investment funds can not perform crypto-currency transactions on their own behalf.
According to the statement of the financial regulator, since virtual currencies are not considered as financial assets, investment funds are prohibited from buying them directly.
Further, in CVM noted that it is possible to run funds intended for investment in other funds, which can then be invested in crypto-currencies and their derivatives.
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