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

According to reports from Cryptonews, Brazilian São Paulo state representative Adriana Ventura has submitted a bill to the 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, which will help promote financial innovation, encourage the development of more complex products, and diversify investment strategies. Currently, major institutional investors in Brazil cannot directly invest in cryptocurrencies. It is still unclear whether the bill will be passed, but the Brazilian cryptocurrency community is rapidly growing, and more legislators are beginning to take a positive attitude towards regulation.