According to Cryptonews, Brazil's São Paulo state assemblyman Adriana Ventura submitted a bill to the parliament to allow investment funds registered in Brazil to purchase cryptocurrencies. Ventura said the proposal aims to meet investment funds’ growing demand and interest in cryptocurrencies, helping financial innovation, encouraging the development of more complex products and diversifying investment strategies. Currently, major Brazilian institutional investors are not able to directly invest in cryptocurrencies. Whether the bill will be passed remains unclear, but the Brazilian cryptocurrency community is growing rapidly, with more lawmakers starting to take a positive attitude towards regulation.