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Brazil Bans Some Pension Funds from Investing in Cryptocurrency
2025-03-31 22:39
BlockBeats News, March 31st, according to CoinDesk, Brazil's top financial regulatory agency has banned some pension funds from investing in crypto assets citing high cryptocurrency risk.
The National Monetary Council (CMN) has prohibited closed pension funds (EFPCs) from investing any portion of their guarantee reserve in Bitcoin (BTC) or other digital currencies. These closed pension funds (EFPCs) manage the retirement savings of tens of thousands of union members and company employees, with their reserves typically composed of bonds and stocks.
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