Brazil CVM Proposes DLT Pilot for Tokenized Capital Market Assets

Brazil's securities regulator CVM has finalized a proposal to create a regulatory sandbox for tokenized assets, including stocks, bonds, and fund shares, using distributed ledger technology. The pilot, delivered by the Tokenization Working Group, aims to test issuance and trading under regulatory oversight. This marks a concrete step in Brazil's push to regulate tokenized markets, potentially setting a precedent for emerging-market regulators.