RATE Group | Brazilian CVM to launch cryptocurrency regulatory sandbox
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Brazilian CVM to launch cryptocurrency regulatory sandbox

18 Jan Brazilian CVM to launch cryptocurrency regulatory sandbox

Posted at 16:34h in Cryptocurrency News by

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The Brazilian Securities and Exchange Commission (CVM) has announced the launch of a new regulatory sandbox containing specific guidelines for cryptocurrency and digital token issuance.

The news comes after the country’s regulator stated at the end of last year that the implementation of blockchain technology is a top priority for 2020.

Brazilian CVM regulatory sandbox

The CVM’s regulatory sandbox acts as a testing environment for fintech and other companies to issue tokens or cryptocurrencies within a regulated environment.

According to the regulator’s website, the initiative is “a response to the changes that are happening in the capital market that have driven the emergence of new business models with technologies such as DLT and blockchain”.

In addition to the sandbox, the CVM also announced other initiatives such as the regulation of the Economic Freedom Act and the revision of instructions on distance voting.

CVM fostering blockchain adoption in Brazil

The CVM is looking…

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