Brazil Watchdog Prohibits Funds from Crypto Investing

Сountry’s regulators are currently working on crypto regulation
15 January 2018   673

The Securities and Exchange Commission of Brazil (CVM) said that local investment funds are prohibited from investing in cryptocurrencies. This is reported by

The corresponding CVM directive is addressed to all employees and official agencies responsible for monitoring the activities of investment funds in the country. The document says that the crypto-currencies are not regarded by the regulator as financial assets, and therefore direct investment in them is prohibited.

Moreover, local funds wishing to invest in the cryptocurrency not directly but through foreign companies are advised not to rush into this and expect further statements by the regulator.

In May last year, the House of Representatives of the National Congress of Brazil created an ad hoc committee to regulate crypto-currencies. During the second half of last year, it held seven public hearings on issues related to digital assets.

In December 2017, CVM and the central bank of Brazil issued a joint statement, which deals with the risks associated with crypto-currencies. In the same month, the representative of the House of Representatives, Expedito Netto, proposed recommendations that, in effect, prohibit cryptotrading, storage, and exchange of digital currency for fiat without official authorization. As punishment to violators, the people's deputy recommended imprisonment for up to six months or a fine. At the same time, Netto did not specify what exactly such a "permit" should be like.

In addition, during the December public hearings, Jonathas Ramalho, Executive Director of Banco do Brasil, spoke in favor of regulating crypto-currency. In his opinion, the creation of rules for circulation of digital money in the country will help create an enabling environment for the development of the blockchain industry.

Caspian to Launch Crypto Derivatives Trading

Caspian does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x
21 March 2019   81

Caspian, an asset-oriented asset management platform, has launched cryptocurrency derivatives trading.

Thanks to integration with Deribit, Caspian customers gained access to trading in futures and options for Bitcoin and Ethereum. Also, the platform will provide the opportunity to trade indefinite bitcoin-swap.

According to Caspian, the platform does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x.

We are excited to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets and its great knowing that the team at Deribit is working towards the same high standards.

Robert Dykes

CEO, Caspian

Caspian noted that their platform connects to Deribit via an API that supports “large trading volumes with extremely low latency”. The platform also has full access to the book of orders of the crypto-derivative stock exchange.