Drex, a Brazilian digital currency regulated by the Central Bank, will open opportunities for the tokenization of the economy and boost the democratization of the financial system in the country. This was the central theme presented by the CEO of the Brazilian Cryptoeconomics Association (ABcrypto), Bernardo Srur, and the entity's advisor, Daniel Paiva, during the public hearing of the Communication and Digital Law Commission (CCDD) of the Federal Senate, held last Tuesday, July 09. The purpose of the hearing was to discuss the Complementary Bill (PLP) 80/2023, which deals with the issuance of the Brazilian digital currency, known as Drex.
Srur brought the trends of the new format and stressed the importance of privacy in the adoption of digital currency, also highlighting the role of ABcrypto in promoting security and the transition to the digital economy.“O Drex will be an important tool for the tokenized economy, offering another way for the population to access this market more efficiently and democratize. This is an important and current discussion, which will open many paths and opportunities, including in conjunction with the” cryptoeconomics, he said.
From a regulatory and legal point of view, Daniel Paiva emphasized that the PLP should focus on security, and highlighted that information privacy is guaranteed by the regulation of the Central Bank.“We have been living with the digitization of money for a long time, and some points raised by the PLP will bring more solidity to the financial system. The reform has the potential to be expanded with more complex and safer topics beyond Drex, such as the evolution of the PIX and the tokenization of” assets, he concluded.
