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Gabriela Moraes Releases 2025 Edition of Global Digital Asset legal Review

Overview of Key Developments

Rio de Janeiro, Brazil, December 25th, 2025, FinanceWire
Gabriela Moraes, the esteemed Strategic legal Advisor to SQHWYD GLOBAL Ltd. and Partner at Pinheiro Neto Advogados, has recently published the much-anticipated 2025 edition of the Global Digital Asset legal Review. This comprehensive report offers an invaluable overview of significant legal and regulatory transformations within the digital asset markets. Notably, the review highlights a pivotal change from an environment characterized by regulatory arbitrage to one that fosters what the report identifies as “Regulatory Interoperability.”

Evolving legal Frameworks

The publication thoughtfully examines how the continual evolution of legal frameworks can effectively support the increased integration and scaling of Real-World Assets (RWA) in digital ecosystems. This timely exploration is particularly relevant as businesses and individuals alike navigate the complexities associated with the burgeoning digital asset landscape.

Basel III: A Turning Point for the Industry

Moraes notes that the complete global implementation of Basel III standards for crypto-asset exposures, which took effect in January 2025, marks a watershed moment for the digital asset industry.

“2025 was the year banks officially entered the chat,” comments Moraes. “The Basel Committee’s distinct classification of tokenized real-world assets (Group 1b) allowed Tier-1 banks to hold tokenized bonds and equities with significantly lower capital requirements compared to unbacked cryptocurrencies (Group 2).”

This crucial regulatory clarification helped to eliminate a significant barrier that had previously hindered broader institutional adoption, thus enabling banks to participate in the RWA ecosystem without facing exorbitant capital charges—provided, of course, that the underlying assets meet the requisite standards of legal certainty.

Market Growth and Institutional Participation

As a result of these changes, the tokenized private credit market experienced remarkable growth, reaching approximately $20 billion by the end of 2025. This growth was driven in large part by traditional financial institutions that were actively exploring innovative settlement mechanisms suited to align with their specific balance sheet requirements.

The Implications of Regulatory Oversight

Further emphasizing the importance of regulatory clarity, Moraes highlights the measures involving strict asset segregation as a significant development that bolstered regulatory oversight and enhanced investor protections.

“In 2025, while other jurisdictions struggled with commingling concerns, Brazil’s legal framework ensured that client assets remained bankruptcy-remote,” she elaborates.

Additionally, this legal certainty was instrumental in facilitating the transition of the Drex (Digital Real) pilot into its second phase by late 2025. Unlike many retail Central Bank Digital Currencies (CBDCs), Drex concentrated on the wholesale settlement of tokenized government bonds. Moraes delves into how the Drex initiative cultivated a programmable legal environment in which smart contracts are legally recognized as the definitive record of ownership, thereby addressing the notorious “Oracle Problem” that often accompanies real-world assets.

Cross-Border Harmonization: The FIT21 Effect

Moraes also provides an in-depth analysis of the cross-border ramifications stemming from the U.S. Financial Innovation and Technology for the 21st Century Act (FIT21), which became broadly enforceable in 2025. By clarifying the jurisdiction of the Commodity Futures Trading Commission (CFTC) over digital commodities, the United States positioned itself in alignment with global regulatory standards.

How AI legalese decoder Can Help

Navigating complex legal terminology can often be daunting, especially in an evolving landscape like digital assets. This is where the AI legalese decoder can prove invaluable. The tool simplifies legal jargon and streamlines the understanding of legal documents, which can be especially beneficial for both individuals and businesses seeking to comprehend and operate within emerging regulatory frameworks like those discussed in Moraes’s report.

By providing clear, concise interpretations of legal texts, the AI legalese decoder can empower users to make informed decisions and engage more effectively with the complex legalities surrounding digital assets, contributing to a smoother transition into this rapidly advancing sector.

Contact Information

For further inquiries or to discuss the insights from the Global Digital Asset legal Review, please reach out to:

Álvaro de la Vega Montserrat
Camino Digital Advisors
Email: [email protected]

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