PANews reported on February 6 that according to Cryptonews, Brazilian Congressman Adriana Ventura proposed a bill to allow Brazilian investment funds to invest directly in crypto assets such as Bitcoin. This measure will "provide a regulated and safe environment." Adriana Ventura said this will enable the fund to "expand the diversification of its portfolio." The main focus of the bill is to allow investors to make up for losses and increase the exemption limit for net gains from stock-related transactions. But the draft bill also includes a provision that allows "investment funds registered in Brazil" to purchase cryptocurrencies from companies registered and operating in the country. Currently, major Brazilian institutional investors cannot invest directly in cryptocurrencies. Some believe that this is out of sync with the fact that Brazil's retail cryptocurrency market is expanding rapidly. Many people claim that the Brazilian cryptocurrency market is the largest market in the entire Latin American region.