The Brazilian Association of Crypto-economy (ABcripto) expanded the scope of the codes and launched its self-regulation of tokenization, marking an important advance for the sector, aligned with the opinions of the CVM and with international best practices
The new self-regulation will be published in September, after formal approval by the Board of Directors of ABcripto, with a term of three months renewable. The goal is to establish clear and robust standards for the issuance and trading of tokens, providing greater transparency, security and trust for the entire market
The tokenization market in Brazil is in a period of significant growth, reflecting global trends. According to the study "Cryptoeconomics in Brazil 2023", carried out by ABcripto, 27% of companies have businesses related to tokenization
The self-regulation of tokenization by ABcripto comes at a crucial moment of growth and expansion of the sector, formalizing practices, bringing greater transparency and organization. The document maintains ethical standards, institutionalizes practices and standardizes procedures. "We have established a new milestone and taken another step towards the development and security of the sector", explain Bernardo Srur, president-director of ABcripto
For Renata Mancini, Vice-chairman of the Board of Directors of ABcripto, the guiding principles of self-regulation aim to ensure an efficient token market, putting equity on the agenda, transparency and trust, in addition to promoting ethical conduct that aligns with current legislation and best practices
The launch of the Tokenization self-regulation reinforces the pioneering spirit of the association, who was the first to launch self-regulation in the crypto sector, у 2020 році, besides having played an important role in the discussions for the creation of the Legal Framework for Cryptocurrencies (Law 14.478/22)
Self-regulation establishes guidelines related to transparency and consumer protection, bringing more legal security for the investor, for conducting business, as well as for the Brazilian financial system, complements Edísio Neto, Chairman of the Board of Directors of ABcripto
Already for Erik Oioli, partner-director of capital markets at VBSO Lawyers, Self-regulation for tokenization is a sign of the maturity of this industry and prepares it to grow even more in the context of a digital economy, creating standards and rules that increase transparency and security for the entire market
The document is the result of a collaborative effort by ABcripto, through its Self-Regulation Committee, coordinated by Matheus Cangussu, Legal Director of Loopipay; Rita Casolato, Compliance Director of LIQI; besides the Tokenization working group, led by Larissa Moreira, Digital Assets Manager at Itaú; and Erik Oioli, partner-director of capital markets at VBSO Lawyers
The self-regulation of tokenization was presented during the workshop "Tokenization – The Future of Digital Transactions, held last Thursday (08). The event featured the participation of major names in the sector, like Matheus Cangussu, Coordinator of the Self-Regulation Committee of ABcripto; Larissa Moreira, Leader of the Tokenization Working Group of ABcripto and Digital Assets Manager at Itaú; Victor Yen, Director of Structured Finance at LIQI; Yuri Nabeshima, Coordinator of the Working Group between ABcripto and IBRADIM; Jonatas Montanini, COO and Co-Founder of Zuvia; Gustavo Blasco, CEO of GCB Investimentos; Erik Oioli, Leader of the Tokenization Working Group of ABcripto and partner-director of VBSO Lawyers; Rita Casolato, Coordinator of the Self-Regulation Committee of ABcripto; and Carlos Akira, Legal & Compliance of Zuvia. The workshop provided a rich space for discussions about the universe of tokenization and its implications for the future of digital transactions
The code provides standardized definitions of the concepts of tokenization. We want to establish tokenization guidelines to promote a safe and transparent environment for investors and the market. The ABcripto code is anchored in principles that can be adaptable to technological and legal evolutions, finalizes Henrique Vicentim Lisbon, partner of Capital Markets at VBSO Lawyers and member of the Self-Regulation Working Group
More information on tokenization self-regulation is available in the document at thislink
