The Brazil Securities Commission presented an update on its Tokenization Working Group at a Rio de Janeiro event with capital markets participants, as the regulator continues developing its approach to tokenized securities. The discussions addressed how regulation may need to adapt or simplify existing obligations to accommodate new technologies while maintaining investor protection, innovation and competition. Participants examined the tokenization of shares and real assets, the use of distributed ledger networks for registration, deposit, custody and settlement, and the steps needed to implement distributed ledger technology across capital markets infrastructure. They also discussed competition between exchanges and the potential role of new infrastructure in the market.