Regulation· ★★★· bullish·

Brazil's CVM Finalizes Rules for Blockchain Tokenization Pilot

  • —CVM finalized the DLT pilot rules within the 60-day deadline set by a July decree
  • —The pilot will cover fund shares, debentures, receivables certificates, and collective investment agreements
  • —The test period is 60 days with a possible 30-day extension for technical needs
  • —The regulator is not mandating specific technologies to avoid limiting innovation
Why it matters: The pilot's results will inform amendments to Brazil's capital markets legislation and could accelerate tokenization for retail investors.
Source: Livecoins
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