Brazil bans some pension funds from investing in crypto assets

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On March 31, according to CoinDesk, Brazil's highest financial policy authority banned some pension funds from investing in crypto assets due to high cryptocurrency risks.

The National Monetary Committee (CMN) prohibited closed pension fund institutions (EFPCs) from investing any part of their guarantee reserves in Bitcoin (BTC) or other digital currencies. These closed pension fund institutions (EFPCs) manage retirement savings for tens of thousands of union members and corporate employees, with reserves typically composed of bonds and stocks.

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