CVM issues a statement on cryptocurrencies investment
On Friday 12th, the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM) issued Circular Letter No. 1/2018, clarifying that cryptocurrencies cannot be classified as financial assets, according to article 2, subsection V, of CVM Instruction No. 555/14, based on the degree of uncertainty surrounding their legal-economic nature and financial risks involved.