CVM signs collaboration agreement with cryptocurrency association

The board of the Securities and Exchange Commission (CVM) approved a technical cooperation agreement with the Brazilian Association of Cryptoeconomics (ABCripto) last Tuesday (23).

The purpose of the agreement is to improve and expand actions aimed at financial education, as well as to create campaigns and educational materials aimed at the population.

For example, the focus is mainly on new financial technologies, such as decentralized finance (DeFi), crypto economy, blockchain and investments in digital assets.

With the aim of providing up-to-date information and knowledge on these topics, the initiative empowers people to better understand and take advantage of the opportunities presented by the digital finance world in a safe and responsible manner.

CVM Signs Technical Cooperation Agreement with Cryptocurrency Association and Plans to Promote Digital Economy in Brazil

The agreement addresses the context of the growing advance of financial innovation, regulation and sustainable finance.

It includes collaboration with laboratories and innovation platforms established or supported by the relevant institutions, along with the experimental regulatory environment of the CVM.

In addition, it includes conducting studies, research, educational actions and other technical support initiatives.

The aim is to promote cooperation in these areas, explore innovative opportunities and increase knowledge and awareness of the changes in the financial sector, thus stimulating the development of sustainable and responsible solutions.

According to Nathalie Vidual, Investor Protection and Guidance Superintendent (SOI) at CVM, the collaboration is promising.

“This partnership will strengthen teacher education, promote understanding of the digital economy and provide learning opportunities for vulnerable youth. In addition, the cooperation between the institutions is aimed at stimulating the introduction of new technologies and promoting a climate that is conducive to financial innovation. We are excited about the opportunities and future impact this agreement can have on the labor market and entrepreneurship.”

Consequences of the regulatory sandbox

In addition to educational initiatives, the agreement establishes a strategic partnership with the CVM Sandbox Committee, pursuant to Article 10 of CVM Resolution 29.

The work plan also includes the development of technical support actions together with ABCripto employees and the market at large, with the aim of expanding the adoption and implementation of the standards and guidelines established by the Autarchy.

For Bruno Gomes, Superintendent of Securitization Supervision (SSE) at the CVM, brokerage firms issuing fixed income tokens may have clarified the regulatory requirements for their structures.

“The idea is to help understand the legal requirements of the CVM, such as crowdfunding rules, offerings and organized markets, for example, which may apply to exchanges that issue fixed income tokens.”

Source: Live Coins