Brazilian Lawmaker Proposes Bill to Allow Investment Funds to Buy Crypto

Brazilian lawmaker Adriana Ventura has introduced a draft bill that would allow investment funds in Brazil to invest in crypto, including bitcoin.

Draft Bill Could Let Brazilian Funds Invest in Crypto

Brazilian investment funds may soon gain regulatory approval to buy cryptocurrencies, thanks to a new draft bill introduced by São Paulo MP Adriana Ventura.

The bill, published on the Brazilian parliament’s website, aims to meet growing demand from investment funds interested in crypto while ensuring a regulated and safe environment. Ventura argues that this move would allow funds to diversify their portfolios and strengthen Brazil’s position in the rapidly growing Latin American crypto market.

Letting investment funds include cryptocurrencies in their portfolios would align Brazil with the global trend of adopting these digital assets. It would recognize their importance as a legitimate asset class and it would reinforce the competitiveness of the domestic market.

Currently, Brazilian institutional investors are restricted from direct crypto investments, despite the country having one of the largest retail crypto markets in Latin America. The proposed legislation would permit funds registered in Brazil to acquire crypto from licensed firms operating within the country.

While it is uncertain whether the bill will pass, Brazil’s crypto-friendly environment is gaining momentum. Regulators are already working on crypto tax reforms set to be announced by Q1 2025.

If approved, the bill could mark a significant step toward mainstream institutional crypto adoption in Brazil, further solidifying the country’s leadership in the Latin American crypto ecosystem.