Brazil bans some pension funds from investing in crypto assets

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MarsBit
03-31
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According to CoinDesk, Brazil's top financial policy authority has banned some pension funds from investing in crypto assets due to high cryptocurrency risks. The National Monetary Council (CMN) prohibits closed pension fund institutions (EFPCs) from investing any part of their guarantee reserves in 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 their reserves typically consisting of bonds and stocks.

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