A Brazilian lawmaker has proposed a draft bill that allows Brazilian funds to invest in cryptocurrencies

ChainCatcher news, according to Cryptonews, Brazilian congresswoman Adriana Ventura has proposed a bill that would allow Brazilian investment funds to directly invest in cryptocurrencies such as Bitcoin. This measure will "provide a regulated safe environment."

Adriana Ventura stated that this would allow funds to "broaden the diversification of their portfolios." The main focus of the bill is to allow investors to offset losses and increase the exemption limit for net gains related to stock transactions. However, the draft bill also includes a provision that allows "investment funds registered in Brazil" to purchase cryptocurrencies from companies registered and operating in the country. Currently, major institutional investors in Brazil cannot directly invest in cryptocurrencies.

Some believe that this is not in sync with the rapid expansion of Brazil's retail cryptocurrency market. Many claim that Brazil's cryptocurrency market is the largest in the entire Latin American region.