Brazil's Securities Commission launches tokenized securities pilot to test blockchain trading

Odaily News: The Brazilian Securities Commission (CVM) has issued Resolution No. 249, launching a tokenized securities pilot program to test the simulation of stock trading and securities issuance, operation, and management on blockchain networks. The project will be conducted in a controlled environment, using stocks and funds that are specially created simulated assets, with no real financial risk involved.

The project will compare the advantages and disadvantages of public chains versus private chains for securities business, and assess risks including cybersecurity, smart contracts, interoperability, and network resilience. Blockchain networks participating in the pilot must encode market rules into smart contracts, ensure privacy in securities operations, and remain subject to regulatory audits.

The CVM will also use AI tools to assist with market monitoring. Brazil's largest stock exchange, B3, is building a tokenization platform, planned for launch in 2027, which will use a proprietary stablecoin. Initially, it will not offer 24/7 trading and will integrate liquidity pools from both digital assets and traditional markets. (Bitcoin.com News)