Brazilian Regulator CVM Launches Investigation Into Tokenization Activities
The Brazilian Securities Regulator (CVM) has launched an inquiry into tokenization companies, sending letters requesting detailed information about their operations.
These letters ask companies to disclose the types of tokens issued, their classifications (such as utility, payment, or securities tokens), and the assets backing these tokens. Firms like Liqi, Peerbr, and Hurst Capital have confirmed receipt of these letters, which aim to map out market activities starting from January 2023.
The CVM states that this investigation is part of its thematic supervision to understand the role of entities dealing with security tokens. However, some tokenization providers feel uneasy, as this scrutiny may inadvertently implicate them.
Clever Robot News Desk 8th August 2024
