Brazil's CVM launches DLT pilot for securities without real assets
- —Resolution 249 of Oct. 13 establishes a voluntary DLT securities pilot
- —Issuance, offering, trading, custody and settlement are in scope
- —Real securities and investor money are barred from the tests
- —Participation guarantees no future approval or regulatory status
Why it matters: The pilot will give CVM data for future tokenization rules, but it does not yet permit issuing real tokenized securities.
Source: TokenPost