Brazilian Securities Authority Advances Tokenized Security Test

Brazil's Securities Commission (CVM) is advancing a simulated test using distributed ledger technology (DLT) for tokenized securities. The test will examine the full trading process of securities including stocks, bonds, receivables certificates, and investment fund shares from issuance to settlement. Real securities or investors will not participate in the simulation. The testing period is 60 days with potential extension by up to 30 days if needed. The related draft is currently awaiting approval by the CVM board.