Odaily Planet Daily News The Brazilian Securities and Exchange Commission (CVM) plans to launch its second regulatory sandbox program in 2024 to explore tokenized use cases. Daniel Maeda, CVM's head of institutional investor supervision, said the launch of the regulatory sandbox program was inspired by the successful experience of about $36 million in tokenized assets. Maeda noted that CVM will not limit specific cases so that innovation can develop freely, but he mentioned that tokenization has potential applications in agriculture and environmental, social and governance fields. In addition, Maeda said that CVM plans to wait for changes in the Brazilian crypto market, including those related to Drex, the digital currency of the Brazilian central bank. He believes that both securities regulators and central banks should consider developments in the digital asset field and regulatory experience in other countries. The Brazilian central bank has recently strengthened its cryptocurrency regulatory measures, and Brazilian President Luiz Inácio Lula da Silva has signed a legal framework that clearly defines the responsibilities of the central bank and CVM in regulating digital assets. In addition, Brazil plans to launch a project in November to issue identity documents through a private blockchain to protect personal data and prevent fraudulent activities. These initiatives show that Brazil has made positive progress in regulation and innovation in the field of digital assets. (Cointelegraph)