Argentina’s securities regulator has just opened an innovation center to discuss regulated regulation is when something is controlled by a specific set of rules. crypto investments.
***
The National Securities Commission (CNV), which is Argentina’s securities regulator, launched an innovation center with the aim of promoting conversations about cryptocurrencies and financial technology investments, fintech . This organization will serve as a liaison between private entities and the institution, to advance new fintech and crypto-regulated instruments in the market.
Argentine media reported that this creation is due to the fact that the National Securities Commission is taking measures to speed up the arrival to the market an area or arena, online or offline, in which commercial dealings are conducted. of new investment instruments based on financial technology and cryptocurrencies.
In addition, the innovation centre will link private investors with regulators to exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. information on the requirements that these products must meet in order to be launched in the market.
Andrés Consentino, president of the CNV, was optimistic about the future of this initiative and said:
We are being proactive in the context of the emergence of cryptoassets and fintech, to work together with the sector and generate a regulatory and policy framework in this regard.
Against scams
One of the main concerns behind this new center, and one of the motivations for its launch, is the number of cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. scams that have occurred in the country since crypto adoption peaked. On this issue, Consentino stated:
This initiative is also intended to improve the framework for investor protection in the face of the rather unfortunate circumstances that often arise.
Also, there are two objectives behind the regulation of cryptocurrency investments in the country according to local sources. One is the protection of investors looking to put funds into crypto markets by launching regulated products. Another is the benefit the national tax agency could have is that it could improve tax collection from users’ profits from crypto investment.
Moreover, this innovation center could mark the beginning of the new era of regulated crypto investment products in Argentina, said Andrés Ponte, president of Matba Rofex investment brokerage firm.
5 work areas
The centre will have five work actions:
- The Innovation Hub.
- Internal training on topics such as fintech, crypto-assets and decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance.
- Addressing misleading advertising by purported investment service providers.
- Regulation of private supply.
- Work so that in 2023 it can launch a regulatory sandbox, a space for experimentation in which projects can be tested.
Also, it is worth recalling that in March the Senate of the Republic of Argentina yesterday approved a loan agreement to refinance the debt of USD $ 45 billion with the International Monetary Fund (IMF) which is also linked to a provision that discourages the use of cryptocurrencies in the country.
Also in March, it was reported that the Financial Information Unit (FIU) of Argentina is working to include companies in the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset industry to the list of entities subject to anti-money laundering reporting requirements.
Sources: Chronicler, Bitcoin.com , archivo
Version of DiarioBitcoin
Imagen de Unsplash
