Brazil's securities regulator, CVM, is planning a 2024 pilot for tokenizing mainstream financial assets, focusing on regulatory implications, leveraging blockchain for efficiency and transparency.
The CVM and Brazil's central bank will regulate tokens considered to be securities and VASPs, respectively, as Brazil seeks to give the blockchain market regulatory clarity.
A bill seeking to legalize virtual currencies has been signed into law and will take effect 180 days following the president’s approval, allowing Brazilians to make payments using digital assets.
