Brazil has banned some pension funds from investing in cryptoassets

Brazil's top financial policy body has banned some pension funds from investing in cryptoassets, citing the high risk of cryptocurrencies.
The National Monetary Commission (CMN) has prohibited closed-end pension institutions (EFPCs) from investing any portion of their guaranteed reserves in Bitcoin (BTC) or other digital currencies. These closed-end pension institutions (EFPCs) manage the retirement savings of tens of thousands of union members and corporate employees, and their reserves typically consist of bonds and stocks.