This bans funds from buying cryptocurrencies. – InterviewSolution

InterviewSolution

1.	This bans funds from buying cryptocurrencies.
Answer» Brazil's securities regulator prohibited local investment funds from buying cryptocurrencies. The prohibition has been imposed, citing the reason that Cryptocurrencies cannot be considered financial assets. Owing to this decision, Brazilian funds cannot directly invest in cryptocurrencies such as Bitcoin. However, funds considering to indirect investment in cryptocurrencies by acquiring a stake in foreign funds have been advised to await further clarification from the regulator.

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