Brazil’s Securities and Exchange Commission (CVM) is moving to significantly expand the country’s investment crowdfunding sector and formalize rules for secondary market trading of tokenized assets, aiming to unlock substantial capital for mid-sized companies and new economic sectors. The regulatory body, which functions as Brazil's equivalent of the U.S. SEC, has proposed sweeping changes to its existing crowdfunding framework, Resolution 88, which are expected to enter force soon following a public consultation period that concluded earlier this year.