EU and Brazil push new tokenization rules for private assets

The European Union has introduced the DLT Pilot Regime, a framework that allows the use of blockchain and distributed‑ledger technology for issuing and settling tokenised private‑asset securities such as private equity, private debt and structured products. Italy has implemented this approach through its Fintech Decree (D. L. 25/2023), creating a digital‑registry role authorised by Consob and enabling fully digital securities.

In Brazil, the securities regulator CVM issued Resolution 246 to create a FinTech Division (Ditec). The new unit will advise on the tokenisation of securities slated for 2026‑2027, oversee the next regulatory sandbox round, and develop policies for the ethical use of artificial intelligence in the capital‑markets sector.