Brazil’s Securities and Exchange Commission, CVM, is quizzing tokenization startups about their activities, and whether they are issuing utility tokens or securities, Valor Globo reported, citing sources. However, startups view this is a mutual education exercise rather than a threat.
It turns out this is not the first time that the CVM has been in touch. The current questions are part of its Biennial Risk-Based Supervision Plan.
Portal do Bitcoin asked the CVM about the process. “The CVM has been establishing contact with institutions in the crypto ecosystem that potentially operate with securities with the aim of deepening its understanding of the role and structure of these institutions and the characteristics of the assets traded,” said the CVM.
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