Brazil's Securities and Exchange Commission Issues Guidance Defining Crypto Assets as Securities

Brazil’s Securities and Exchange Commission (CVM) has released a new guidance document that defines the different classifications for existing crypto assets, defines what can be considered securities, and explains how it will, Bitcoin.com reported. intervene in these markets. Under the new standard, tokens that can be considered securities must be digital representations of the following structures: shares, bonds, subscription bonuses; rights coupons, subscription receipts and split certificates relating to securities; certificates of deposit for securities; bond notes. Additionally, other kinds of tokens may also be considered securities depending on their classification. The tokenization of assets does not require prior approval or registration from organizations, but if the resulting assets are considered securities, they will have to comply with existing securities regulations, the CVM said.