This article is from cointelegraph.com.br and the original article can be read here in Portuguese
The fear of a possible unfavorable interpretation by the Securities and Exchange Commission (CVM), related to the framework of real estate tokens, representative of the ownership of a building in São Paulo, as an offer of security for the venture, should take it outside the Brazil the crypto trading round. What is expected to happen in September and raise between R$ 50 million and R$ 70 million in a country, not yet disclosed, where the legislation is favorable to the operation.
The information, published last Tuesday (7) in the column E-investidor, from Jornal O Estado de São Paulo, was revealed by Helena Margarido, co-founder and head of cryptocurrency analysis at the Monett platform, who participates in the development of the project.
She added that the property to be tokenized has not yet been chosen, but assured that investors who buy the real estate token will have all rights to the equity and receivables per square meter, which in this case also includes the profits in case of sale, to be passed on proportionately to the token holders.
According to Helena Margarido, two buildings in the capital of São Paulo are under analysis and the choice is scheduled for the coming weeks. After the definition of the building, the division of the property will take place, which may be in a smaller quantity and with a higher price per token, R$ 15 thousand, or in a greater amount of tokens with a lower value, R$ 1.5 thousand per unit of crypto asset, she says.
The company representative highlighted the option of launching abroad, in a country with jurisdiction favorable to cryptocurrency projects, arguing that:
“It could perfectly well happen in Brazil. Unfortunately, our regulatory bodies are far behind when it comes to technological innovations.”
About that, in the National Congress, the regulation of cryptocurrencies in Brazil may have one more twist related to the final text of the Bill (PL). This because the rapporteur of the ‘Bitcoin Law’ barred the PL vote in the Chamber of Deputies and said that he will reject the Senate’s highlights made in the proposal, as reported by the Cointelegraph Brazil.
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