Government and financial regulators in Brazil exploring use of Blockchain

  • Brazilian authorities are keen to adapt to new emerging technologies, such as blockchain.
  • The Central Bank of Brazil, the Securities and Exchange Commission (CVM), the Superintendence of Private Insurance (SUSEP), and the Ministry of Economy’s Special Secretariat for Finance are working together

The government and financial authorities in Brazil are working on a project for the development of a regulatory sandbox type model. They are keen to target new technologies such as blockchain.

In terms of the authorities; the Central Bank of Brazil, the Securities and Exchange Commission (CVM), the Superintendence of Private Insurance (SUSEP), and the Ministry of Economy’s Special Secretariat for Finance are working together to ensure they adapt to tech such as blockchain, exploring how it is affecting the financial industries within the country.

The CVM detailed that the project implies that emerging technologies in the likes of; blockchain, robotics and AI have facilitated the establishment of new business models. They of which have been able to come up with new products and services of higher quality and scope.

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