Drex, the 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 Association of Cryptoeconomics (ABcripto), Bernardo Srur, and the organization's counselor, Daniel Paiva, during the public hearing of the Senate Federal's Communication and Digital Law Committee (CCDD), held last Tuesday, July 9. The purpose of the hearing was to discuss Complementary Bill (PLP) 80/2023, which addresses the issuance of the Brazilian digital currency, known as Drex.
Srur presented the trends of the new format and emphasized the importance of privacy in the adoption of the digital currency, also highlighting the role of ABcripto in promoting security and the transition to the digital economy. "Drex will be an important tool for the tokenized economy, providing another way for the population to access this market more efficiently and democratically. This is an important and current discussion that will open many paths and opportunities, including in conjunction with the crypto economy," he stated.
From a regulatory and legal perspective, Daniel Paiva emphasized that the PLP should focus on security, and highlighted that information privacy is guaranteed by Central Bank regulation. "We have been living with the digitization of money for a long time, and some points raised by the PLP will bring more stability to the financial system. The reform has the potential to be expanded with more complex and secure topics beyond Drex, such as the evolution of PIX and asset tokenization," he concluded.
