TechFlow news, February 6 — According to Cryptonews, São Paulo state representative Adriana Ventura has submitted a bill to the legislature proposing to allow registered investment funds in Brazil to purchase cryptocurrencies. Ventura stated that the proposal aims to meet the growing demand and interest from investment funds in digital assets, promote financial innovation, encourage the development of more sophisticated products, and diversify investment strategies. Currently, major institutional investors in Brazil are not permitted to directly invest in cryptocurrencies. It remains unclear whether the bill will be approved, but Brazil's cryptocurrency community is rapidly expanding, and an increasing number of lawmakers are adopting proactive stances toward regulation.
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