Brazilian Securities and Exchange Commission Enhances Oversight of Cryptocurrency Investments
The Brazilian Securities and Exchange Commission (CVM) has updated its regulations to strengthen the supervision of collective investment schemes involving cryptocurrencies in Brazil. This move signifies a growing focus on the digital asset market and investor protection.
The update, formalized through Resolution CVM nº 233 of July 14, 2025, amends the internal regulations of the CVM. The decision follows a meeting of the CVM Board on July 8, which approved the new measures impacting investments offered in crypto assets.
The updated regulations, approved by acting president Otto Eduardo Fonseca De Albuquerque Lobo, will take effect on August 1, 2025. Companies operating in the market are advised to carefully review the changes.
New Intelligence Unit to Focus on Cryptocurrency Investment Oversight
A key aspect of the resolution is the creation of the Intelligence Development Management (GDI). This new unit will be responsible for overseeing and regulating collective investment contracts related to digital assets, including cryptocurrencies like Bitcoin, and other innovative assets.
The GDI’s responsibilities include:
- Providing operational and managerial support for collecting and analyzing information and producing evidence.
- Developing, experimenting with, and evaluating methods, mechanisms, techniques, and technologies for intelligence and data analysis.
- Promoting a culture of data analysis and science and providing training in related methods, techniques, and technologies.
- Establishing partnerships with other bodies focused on data science and intelligence technologies to improve the CVM’s capabilities.
The GDI will focus on overseeing, supervising, guiding, sanctioning, and supporting the standardization of any securities or collective investment contracts. These contracts must involve “digital assets,” such as cryptocurrencies and other innovative assets.
Employees assigned to the GDI will also participate in activities approved by the CVM’s Risk Management Committee.
The resolution also indicates that the CVM will work on developing data science tools to assist in selecting market participants for supervision. Finally, those affiliated with the GDI will be responsible for initiating administrative sanctioning processes.
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