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Brazilian Regulators Allow Investment Funds to Invest Money in Bitcoin




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.


Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC




The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Wisebitcoin Launches Professional-Grade Crypto Exchange



Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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