The Brazil Securities Commission (CVM) has received 11 project proposals for its distributed ledger technology (DLT) pilot, established in October to test tokenized securities operations. Its Tokenization Working Group (GTT) will assess all proposals against the requirements of Resolution CVM 249, checking their suitability, outstanding issues and points requiring attention. The pilot covers all types of securities, with experiments spanning issuance, trading, custody and settlement on DLT networks. Tests will assess technical, operational and legal feasibility, examine interoperability between network participants, and identify risks, vulnerabilities and regulatory gaps. A final evaluation submitted to CVM’s board will set out results, identified risks and recommendations for possible regulatory or legislative changes.
Brazil Securities Commission receives 11 proposals for tokenized securities pilot
The Brazil Securities Commission has received 11 proposals for its tokenized securities pilot, established in October. Its tokenization working group will assess each proposal against the program’s regulatory requirements. The tests will examine feasibility, interoperability and risks across securities operations to inform possible regulatory or legislative changes.