Brazilian securities regulator plans regulatory sandbox for tokenization starting 2024
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Brazilian securities regulator CVM plans to launch a regulatory sandbox for tokenization starting in 2024.
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CVM superintendent Daniel Maeda announced the plan at Rio Innovation Week. The sandbox would build on CVM's experience tokenizing $36M in assets.
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Maeda said CVM is interested in tokenization for agribusiness and ESG but wants to avoid limiting innovation.
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CVM is watching crypto regulation developments like Brazil's central bank digital currency. Maeda respects SEC's crypto stance.
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CVM sees benefits like transparency, lower costs, and democratization of investing from crypto tokenization.