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.
The Brazilian CVM has ordered Bybit exchange to cease offering securities illegally, four months after it commenced operations, just as it banished Binance.
A regulatory framework that was approved by lawmakers in April and currently on the desk of the Office of President gives the Brazilian securities regulator a small role in the digital currency industry.
Brazil’s regulators have jointly launched a blockchain-powered platform to share information between them, reducing bureaucracy and increasing transparency.
