Odaily News The Brazilian Securities and Exchange Commission (CVM) plans to launch a second regulatory sandbox program in 2024 aimed at exploring tokenization use cases. Daniel Maeda, CVM’s head of institutional investor regulation, said the launch of the regulatory sandbox program was encouraged by the successful experience of approximately $36 million in tokenized assets. Maeda noted that the CVM will not limit specific cases so that innovation can develop freely, but he mentioned that tokenization has potential applications in agriculture and environmental, social and governance fields. In addition, Meda stated that CVM plans to wait for changes in the Brazilian crypto market, including those related to the Brazilian central bank’s digital currency Drex. He believes that both securities regulators and central banks should consider developments in the digital asset field and the regulatory experience of other countries. The Brazilian Central Bank has recently strengthened its cryptocurrency regulatory measures, and Brazilian President Luiz Inácio Lula da Silva signed a legal framework that clearly stipulates the responsibilities of the Central Bank and the CVM in supervising digital assets. Additionally, Brazil plans to launch a project in November to issue identity documents via a private blockchain to protect personal data and prevent fraudulent activity. These initiatives demonstrate Brazil’s positive progress in regulation and innovation in the digital asset space. (Cointelegraph)