Brazil Restricts Pension Funds from Investing in Cryptocurrencies

According to Foresight News, Brazil's top financial policy authority has prohibited certain pension funds from investing in cryptocurrencies due to high risk concerns. The National Monetary Council (CMN) has banned closed pension entities (EFPCs) from allocating any portion of their reserve funds into Bitcoin (BTC) or other digital currencies. These EFPCs manage retirement savings for tens of thousands of union members and corporate employees, with their reserves typically comprising bonds and stocks.