Update
Brazil Launches Experimental Tokenization Program
Brazil’s securities watchdog, the Comissão de Valores Mobiliários (CVM), has launched an experimental program using decentralized ledger technologies to test the implementation of securities operations on digital platforms. The program will be carried out in a controlled environment where all operations will be simulated, ensuring that investors operate using stocks and money created for this task only, without exposing real stocks to financial risks. The pilot aims to explore the feasibility of executing all securities operations on decentralized platforms, comparing the benefits and drawbacks of public and private blockchains for this use case, and examining cybersecurity and operational risks of operating securities on digital platforms.