The Brazilian CMN has blocked volatile crypto investments for pension funds, specifically prohibiting closed pension funds from investing in Bitcoin and other cryptocurrencies. This move aims to minimize risks associated with pension fund portfolios due to cryptocurrency volatility.
The CMN's resolution reflects concerns over market fluctuations and is intended to safeguard Entidades Fechadas de Previdência Complementar (EFPCs) from financial instability that digital currencies may introduce.
Industry experts have mixed reactions; while some commend the caution, others argue it may limit innovation in investment opportunities.
Full story here: https://coincu.com/329715-brazil-bans-pensions-crypto-investments
