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Brazilian Regulators Allow Investment Funds to Invest Money in Bitcoin

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Brazil’s investment fund regulator dubbed Comissão de Valores Mobiliários (CVM) has allegedly legalized investment funds to invest their money into the cryptosphere through acquiring the share of funds and derivatives.

Investors with a portfolio of digital assets such as Bitcoin, Litecoin, and Ethereum could purchase a share in the foreign funds. The funds would take a commission to operate the transaction just like a stock fund.

Brazil Proceeds with prudence

According to a report conducted officially by the Finance Ministry of Brazil (FMB), the news was first covered by a local media outlet called Portal do Bitcoin which addressed; funds will also be able to invest in assets traded in other jurisdictions as far the regulation in the market permits its trading.

The document issued by the Ministry of Finance reveals that there’s a scope for illegal activities such as money laundering. Therefore, these funds should be poured into the digital assets through a regulated exchange. The report adds the investment should be made in the administration of regulatory agencies that can control such illicit practices. Nonetheless, there’s no restriction on making investments in another way as far the regulatory and legal necessities are met.

Subsequently, the circular further claims that funds must take safety measures before buying a specific cryptocurrency to stay away from purchasing digital tokens issued by fake Initial Coin offerings (ICOs).

Moreover, the report points at six safety measures including checking the trading liquidity of a cryptocurrency, verifying the liquidity of a token and identifying the technology whether it is accessible, transparent, and identifiable by a user. In addition, the funds should ensure whether the software is open source and free.

Surprisingly, it also addresses that investments must verify the management of hostile sales method or check whether the arrangements bring divergence of interest and concentration of additional commands on the promoter or issuer of the digital asset.

That all being said, Brazilian regulatory agency raised a point of concern regarding the right pricing of each crypto asset, the document of Brazilian Finance Ministry reads:

“One possible parameter, in this sense, is the investment in crypto assets that contain the permanent disclosure of globally recognized price indices prepared by independent third parties.”

In the previous research conducted by the finance ministry, Daniel Maeda the chief of institutional investor relations at CVM stated, investment funds don’t have the authority to put the money in digital assets directly. According to CVM, investments funds that invest in cryptosphere will have to first clear that how they will move towards airdrops and hard forks.

Brazil has been continuously supporting the crypto industry, and it has come up with some impressive figures regarding market growth. The market of Brazil grew nearly from nothing to worth more than 2.5 billion USD last year.

Consequently, many crypto enthusiasts are considering this move as a significant step towards the worldwide acceptance of cryptocurrencies.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay.

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

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GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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