• Days
  • Hours
  • Mins
  • Secs
  • Wed, 18 Sep 2019, 03:04 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Brazil authorities to develop regulatory sandbox for blockchain, DLT

Mon, 17 Jun 2019, 03:15 am UTC

The Brazilian government and financial regulators are reportedly developing a regulatory sandbox type model targeting new technologies including blockchain.

The Special Finance Secretariat of the Ministry of Economy, the Central Bank of Brazil, the Securities Commission, and the Superintendency of Private Insurance will work together to ensure the new initiative will adapt to the ongoing digital transformation in the financial, capital, and insurance segments.

According to the announcement by CVM, technologies including distributed ledger technology (DLT), blockchain, and artificial intelligence have allowed the establishment of new business models that produce products and services of higher quality and scope.

The move aims to implement regulations in corresponding sectors to ensure compliance with the rules of each segment, regardless of how services and products are delivered, especially in the areas of legal certainty, customer and investor protection, and safety, health and efficiency of markets.

In addition, the participating regulators will seek to act jointly if technology-related activities go through more than one regulated market.

It is hoped that the implementation of this regulatory regime will be able to promote the development of products and services that are more inclusive and of higher quality and that can foster constant innovation in the financial, security, and capital markets,” the statement said.

As previously reported, the government of Brazil is seeking to encourage implementation of blockchain and other advanced technologies in all local public administration unit that will see the federal and state government divisions implementing evolving technologies like blockchain and artificial intelligence (AI) to enhance services to the public.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,252.70 (-0.12%)
  • Ethereum (ETH) $212.26 (+7.41%)
  • XRP (XRP) $0.307500 (+17.83%)
  • Bitcoin Cash (BCH) $325.46 (+5.96%)
  • Litecoin (LTC) $75.41 (+3.86%)
  • Bitcoin (BTC) $10,252.70 (-0.12%)
Sep 17, 2019 (Tuesday)
14:34
Wells Fargo to pilot internal blockchain-based digital currency for payments
12:57
Marsh, Arch Insurance (UK) Limited launch insurance solution for digital assets ‘Blue Vault’
12:18
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:17
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:45
Crypto exchange Binance backs Chinese crypto news portal Mars Finance
10:55
Crypto Technicals: XMR/USD rejected at 200-DMA, scope for resumption of weakness
10:18
Hedera Hashgraph blockchain goes live with 26 dapps
08:38
Crypto Technicals: Ethereum pauses shy of $200 mark, set to extend bullish momentum
07:38
Harbor tokenizes iCap Equity’s $100M real estate funds using ethereum blockchain
06:48
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
06:02
Women in Leadership: Publicis Sapient hires Merril Lynch veteran Priya Bajoria as SVP Financial Services
05:24
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
05:17
Crypto payment services BitPay to roll out Ethereum support in the coming weeks
04:37
Blockchain food provenance platform OpenSC secures $4M in seed funding
04:03
Australia's REIQ partners with Igloo to develop blockchain-based tenancy agreements
03:48
Crypto exchange OKEx Korea to remove all privacy coins, including monero, dash, zcash, over FATF's 'travel rule'
03:39
Aventus unveils new ticketing protocol Aventus Classic and $15K prize for blockchain developers
03:35
C4IR UAE, World Economic Forum introduce blockchain accelerator program at Dubai's Area 2071
Sep 16, 2019 (Monday)
11:57
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:31
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft