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

Odaily News: The Brazilian Securities Commission (CVM) has issued Resolution No. 249, launching a tokenized securities pilot project to test simulated 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 operations, and assess risks such as cybersecurity, smart contracts, interoperability, and network resilience. Blockchain networks participating in the pilot must encode market rules into smart contracts, and securities operations must maintain privacy while remaining 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 to go live in 2027 and adopt a proprietary stablecoin. Initially, it will not offer round-the-clock trading and will integrate liquidity pools from both digital assets and traditional markets. (Bitcoin.com News)