Crypto▲ Bullish
Brazil's securities regulator forms task force with 60-day deadline for tokenization proposal
Brazil's CVM launched a 14-member working group with a 60-day deadline to propose rules for tokenized securities. The regulator estimates volumes will exceed $740 million.
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Brazil's securities regulator put tokenization on a formal clock. The Comissão de Valores Mobiliários (CVM) launched the Securities Tokenization Working Group (GTT) on July 17, giving the 14-member team 60 days to deliver an experimental proposal for securities issued on distributed ledger platforms.
The group's scope covers registration, custody, trading, settlement, cybersecurity, and operational risk. The broader mandate runs 120 days, with an option for a 30-day extension. By then, the GTT is expected to deliver a full report and recommendations to the CVM board.
CVM President Otto Lobo called the initiative a "critical transformation" that needed to balance innovation with safeguards. He said the move toward tokenization is a key moment for Brazil's capital markets.