Brazil will create regulatory sandbox that would include projects with cryptocurrencies

Según Criptonoticias Brazilian Securities Commission (CVM) has defined in a roadmap that this year 2020 will launch a regulatory sandbox, which is an experimental space where innovative projects can be developed with less regulatory burden, which would include projects with cryptocurrencies.

«The creation of an experimental regulatory environment, known as the regulatory sandbox, is essential to further stimulate the adoption of alternative models focused on the use of potential technologies, which can bring great benefits to the sector, especially in reducing costs for the regulated and other participants, ”explained the CVM, citing the Superintendent of Market Development, Antonio Berwanger.

On June 13, 2019, the Special Secretariat of Finance of the Ministry of Economy, the Central Bank of Brazil and the Superintendence of Private Insurance made public for the first time the intention of creating a sandbox Regulatory

In that sense, during the debate held throughout the past year, it was indicated that these initiatives would serve to make appropriate use of technological advances and adjust them to established regulations.

With the announcement of this Monday, it would be almost certain that this year the sandbox regulatory that would serve to promote innovative projects, as well as to establish potential regulations or guidelines to regulate different activities in which technology is used, such as blockchain and others.

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