Brazilian Securities and Exchange Commission CVM Defines Rules to Classify Cryptocurrency Assets as Securities
The Brazilian Securities and Exchange Commission (CVM) has clarified the criteria by which different cryptocurrency assets can be considered securities . Through the issuance of a guidance opinion document, the CVM defines different classifications for existing cryptocurrency assets , specifies which can be viewed as securities, and explains how it will intervene in these markets. Brazilian Securities and Exchange Commission CVM Addresses Crypto Securities Classification The Brazilian Securities and Exchange Commission (CVM) has issued a new guidance opinion document that touches on the issue of crypto-based securities. The document, which acknowledges there is still a vacuum on the subject due to the absence of specific regulation, defines cryptocurrencies as digitally represented assets, protected by cryptography tech, that can be transacted and stored through Distributed Ledger Technologies (DLT). According to the new criteria, tokens that can be considered securities must be di...