Indirect investment in crypto is possible, but requires precautions, says CVM
SAO PAULO (Reuters) - Investment funds regulated by the Securities Commission (CVM) are allowed to invest indirectly in crypto securities, but it is up to the managers and auditors of the ...
SAO PAULO (Reuters) - Securities and Exchange Commission-regulated investment funds are allowed to invest indirectly in crypto securities, but it is up to managers and auditors to undertake certain diligence in the acquisition and maintenance of such portfolio assets, according to a letter issued this Wednesday. fair by the regulatory body.The document states that CVM Instruction No. 555 "authorizes indirect investment in crypto assets through, for example, the acquisition of quotas of funds and derivatives, among other assets traded in third jurisdictions, provided that they are admitted and regulated in those markets."The recommendation of the municipality is that investments are made through trading platforms (exchanges) subject to the supervision of regulatory bodies, aiming to curb illegal practices such as money laundering.However, the letter emphasizes that there is no explicit prohibition on investments made otherwise."Thus, it is important that the ma...
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