Brazil’s CVM Opens 15-Business-Day Window for Securities Tokenization Pilot

Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM), has opened a 15-business-day proposal period for a controlled tokenization pilot to test distributed-ledger systems across securities markets without live assets. Only associations representing entities authorized, registered or accredited by the CVM to operate in securities markets, and securities-market self-regulatory entities, may submit proposals; both must participate in the CVM Tokenization Working Group. The program covers securities operations across the life cycle, including issuance, offering, distribution, book-entry registration, trading, custody, central deposit, settlement and post-trading. Examples include shares, debentures, receivables certificates, fund units and other securities.

Source: TokenPost