The financial policy of the first Brazil prohibited certain pension funds from investing in cryptocurrencies because they are too risky.
The National Monetary Council (CMN) has prohibited closed retirement entities known as the Entidades Féchadas de Previdência Complementar (EFPCS) to allocate any part of their Bitcoin (BTC) warranty or other digital currencies.
EFPCs manage retirement savings for tens of thousands of union workers and employees of the company and their reservations are generally made up of bonds and shares.
“The resolution also prohibits investments in virtual assets, taking into account their specific investment characteristics and their associated risks,” said an opinion from the Ministry of Finance among local media.
The decision was published last week under resolution 5.202 / 2025 by the National Monetary Council (CMN).
On the other hand, last year, the specialist in British pensions Cartwright guided the country’s first retirement fund to make a Bitcoin allowance worth 3% of its assets. Several American states have started to experiment with crypto allowances to their retirement systems, despite prudence at the federal level. The Wisconsin State board of directors, for example, revealed in February that it had invested $ 340 million in Bitcoin via Blackrock’s Etf (Ibit).
The decision does not seem to apply to open retirement funds or individual pension products sold by banks and insurers. These are regulated separately and can allow indirect investments thanks to negotiated funds on the stock market or tokenized asset platforms.
