Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Assets will have to comply with current regulations approved this week by the country’s outgoing president, Jair Bolsonaro.

AccessTimeIconDec 23, 2022 at 8:32 p.m. UTC
Updated Dec 23, 2022 at 8:41 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

The Brazilian Securities and Exchange Commission (CVM) on Friday approved the ability for investment funds to include crypto assets among their holdings.

In a statement, the regulator explained that the decision seeks to allow funds to operate in the crypto segment while paying attention to controls related to the integrity and ownership of the assets.

In order to be part of fund portfolios, the CVM said crypto assets will have to follow a set of criteria in line with a new regulatory framework established in a law enacted by the outgoing president, Jair Bolsonaro, on Thursday.

Crypto assets may be part of a fund as long as they are traded in entities authorized by either the Central Bank of Brazil or the CVM, or – in the case of operations abroad – by a local supervisor, the new rule detailed.

This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese article can be found here.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Rodrigo   Tolotti

Rodrigo Tolotti is a crypto editor at InfoMoney, a leading financial news publication in Brazil. He graduated in Journalism from Faculdade Cásper Líbero.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.