Bollcoin, October 26 — According to Crowdfund Insider, Otto Lobo, president of the Brazilian Securities and Exchange Commission (CVM), said that Brazil's capital market regulatory infrastructure urgently requires a mandatory transformation, shifting fully to a "tokenization" model, supplemented by AI-based monitoring mechanisms. This push for regulatory modernization stems from a ruling by Brazil's Federal Supreme Court (ADC 7791) and related recommendations from the International Monetary Fund (IMF); under these arrangements, the CVM will be allowed to retain 70% of the regulatory fees it collects.