Brazilian lawmakers submit bill to allow investment funds to invest in cryptocurrencies

According to Cryptonews, Brazilian State Councilor Adriana Ventura has submitted a bill to parliament proposing to allow investment funds registered in Brazil to purchase cryptocurrencies. Ventura stated that the proposal aims to meet the growing demand and interest of investment funds in cryptocurrencies, contribute to financial innovation, encourage the development of more complex products, and diversify investment strategies. At present, major institutional investors in Brazil are not yet able to directly invest in cryptocurrencies. It is still unclear whether the bill will be passed, but the Brazilian cryptocurrency community is rapidly developing, and more legislators are taking a positive attitude towards regulation.