Brazil’s securities regulator sets up task force with 60-day deadline for tokenization proposal

PolicyBrazil’s securities regulator sets up task force with 60-day deadline for tokenization proposalThe framework will address critical issues like official ownership records, private key custody, transaction reversibility and system liability.By Francisco Rodrigues|Edited by Sheldon Reback Jul 20, 2026, 12:02 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBrazil’s securities regulator, CVM, formed a group to draft an experimental framework for tokenized securities, with a primary proposal due within 60 days of installation.The framework will address critical issues like official ownership records, private key custody, transaction reversibility and system liability.Brazil's real-world asset market has reached roughly 12 billion reais ($2.34 billion), with the CVM leveraging past sandbox experiments to inform new rules.Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM) said it created a working group to draft an experimental framework for tokenized securities.The regulator said the framework will cover the registration, custody, trading and settlement of securities using distributed ledger technology.The group must send its first proposal to the CVM’s board within 60 days of being formally installed, while a broader review will run for 120 days, with a possible 30-day extension.The group brings together 14 CVM departments and may consult government agencies, market associations, self-regulatory bodies and outside specialists. It will also review cybersecurity risks, international regulatory models and results from earlier sandbox programs, the regulator said.Brazil already applies securities law according to a token’s economic characteristics. The CVM’s 2022 guidance clarified that using blockchain does not change whether an asset qualifies as a security.The new review will focus on what happens around the asset. Blockchains can combine functions that are no…

Brazil’s securities regulator sets up task force with 60-day deadline for tokenization proposal

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