Regulation· ★★· bearish·

Guarujá pension fund bans investments in crypto-exposed funds

  • —Act No. 03/2026 took effect on October 22, signed by president-director Edler Antonio da Silva
  • —The ban covers direct and indirect crypto exposure and decarbonization credits lacking central bank or CVM registration
  • —Only S1/S2 banks with at least R$100 million in assets and top-200 ANBIMA ranking may manage the fund's money
  • —Federal CMN Resolution No. 5.272 has barred pension funds from crypto investments since December 2025
Why it matters: Brazilian municipal pension funds are falling in line with the federal ban, curbing institutional demand for crypto-exposed funds in the country.
Source: Livecoins
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