The Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator, is fast-tracking the creation of an experimental regulatory regime for tokenized securities, positioning the country to become a leader in the global Real-World Asset (RWA) market. The CVM’s newly formed Tokenization Working Group (GTT), established on July 17, 2026, has been mandated to deliver a proposal for a regulatory "sandbox" within 60 days, signaling a timeline that could see the experimental framework launched in the fourth quarter of this year. The push for regulatory clarity arrives as the tokenization market in Brazil explodes, with reported industry data showing that tokenized securities emissions surpassed R$ 4.84 billion (approximately $948 million) in the first half of 2026, representing over 122% growth.