Brazil's CVM Creates Working Group for Tokenized Securities Framework with 60-Day Deadline

Brazil's securities regulator, the Comissão de Valores Mobiliários (CVM), established a working group to draft an experimental framework for tokenized securities, according to an official announcement. The 14-member group must submit its first proposal to the CVM's board within 60 days, with a full review period of 120 days and a possible 30-day extension. The framework will address registration, custody, trading and settlement of securities using distributed ledger technology, while considering cybersecurity risks and international regulatory models. Brazil's tokenized real-world asset market currently stands at approximately $2.34 billion.
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