“Tokenization” of the Economy

Regulatory challenges in Brazil

Authors

  • Artur Barbosa da Silveira Universidade Presbiteriana Mackenzie
  • Fabio Ramazzini Bechara Universidade Presbiteriana Mackenzie

DOI:

https://doi.org/10.5335/rjd.v39i3.16026

Keywords:

Regulatory Challenges, Drex, Cryptoassets, LGPD

Abstract

This article aims to analyze the regulatory challenges in Brazil caused by the “tokenization” of the economy, whether in the sense of safeguarding the fairness, auditability and transparency in transactions, or in the sense of reducing the risks of money laundering and ensuring the necessary protection of personal data. The future implementation of the Brazilian digital currency (“Drex”) will be discussed, the treatment of cryptoactives in light of the new regulatory framework (Law No. 14,478/2022) and the challenges of framing this regulation in the Brazilian General Data Protection Law (LGPD). In this sense, “tokenization”, the digital representation of an asset in the “blockchain” environment, is a social reality resulting from new technologies and which requires greater regulation by the monetary authorities in our country, with the Central Bank fulfilling the role of regulatory agent for these assets as means of payment or investment, except for the jurisdiction of the Securities and Exchange Commission.

 

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Author Biographies

  • Artur Barbosa da Silveira, Universidade Presbiteriana Mackenzie

    Doutorando em Direito Político e Econômico pela Universidade Presbiteriana Mackenzie, integrante do Grupo de Pesquisa Estado e Economia. Mestre em Direito pela Universidade Nove de Julho. Pós graduado em Direito Administrativo e Constitucional pela EPD – Escola Paulista de Direito. Procurador do Estado de São Paulo. E-mail: artursilveira@yahoo.com.br, Currículo lattes: http://lattes.cnpq.br/0040252206766077

  • Fabio Ramazzini Bechara, Universidade Presbiteriana Mackenzie

    Professor Doutor dos Programas de Graduação e Mestrado/Doutorado em Direito Político e Econômico da Faculdade de Direito da Universidade Presbiteriana Mackenzie. Doutor em Direito pela Universidade de São Paulo. Líder do grupo de pesquisa “Direito penal econômico e justiça internacional” na Universidade Presbiteriana Mackenzie. Promotor de Justiça no Estado de São Paulo. E-mail: fabio.bechara@mackenzie.br. Currículo lattes: http://lattes.cnpq.br/6852406985950434

     

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Published

2025-12-18

Issue

Vol. 39 No. 3 (2025): REVISTA JUSTIÇA DO DIREITO

Section

Artigos

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

All articles are licensed under the Creative Commons Attribution-NonCommercial-NoDerivations 4.0 International license.

How to Cite

“Tokenization” of the Economy: Regulatory challenges in Brazil. (2025). Law of Justice Journal, 39(3), 202-223. https://doi.org/10.5335/rjd.v39i3.16026