The Brazilian Association of Cryptoeconomics (ABcripto) reaffirms its commitment to strengthening the Securities and Exchange Commission (CVM), highlighting the strategic importance of the regulatory agency for the capital market and the development of financial innovations in Brazil. By signing the "Open Letter: Strengthening the CVM as a Pillar of the National Capital Market," ABcripto emphasizes the need for concrete actions to ensure the sustainability and modernization of the CVM in the face of the challenges posed by the exponential growth of the market.
In recent years, the Brazilian capital market has shown robust growth, with the number of supervised participants jumping from 55,000 in 2019 to 90,000 in 2024 — an increase of over 60%. In the same period, the equity of investment funds grew by 71%, reaching R$ 9.4 trillion. However, this progress was not accompanied by a proportional expansion of the CVM's structure, which faces limitations in human and financial resources, compromising its ability to supervise and promote the development of the sector.
For Bernardo Srur, CEO of ABcripto, “the CVM is essential to ensure integrity, transparency and trust in the Brazilian capital market. Strengthening the agency is essential to meet growing demands, especially in an environment of technological innovations and new business models, such as those emerging in the universe of crypto assets and decentralized finance (DeFi).”
ABcripto highlights that strengthening the CVM goes beyond the regulation and supervision area. In partnership with the municipality, the association develops initiatives focused on financial education and the dissemination of knowledge about crypto assets and DeFi. This collaboration aims to empower investors and promote a more robust and inclusive market. An example of this synergy is the agreement between ABcripto and CVM, which establishes guidelines for joint projects, enhancing the efforts of both parties towards a more transparent and efficient market.
Bernardo Srur also emphasizes that the commitment to the CVM reflects the responsibility for Brazil's economic growth and for building a capital market that inspires confidence and attracts investments. We are confident that, through joint actions between the government, entities, and society, we will be able to ensure the strengthening of CVM as an indispensable pillar for the future of the Brazilian market.
ABcripto is actively engaged in dialogue with the CVM and other stakeholders to contribute to solutions that strengthen the financial ecosystem, boosting Brazil's competitiveness in the global landscape.
