Argentina Embraces Crypto: CNV Shifts to Supportive Bitcoin Regulations at Tech Forum
October 25, 2024If approved, Resolution 1025 will mandate cryptocurrency companies to disclose their agreements with third parties and clients, enhancing transparency.
Gonzalo Chiarullo, a government official, pointed out that many crypto industry leaders had previously faced investigations by the CNV, underscoring the significant regulatory shift.
Argentina's National Securities Commission (CNV) is shifting its approach towards Bitcoin, moving from a crackdown to a supportive stance for the crypto industry.
This policy change was highlighted during the Tech Forum held in Buenos Aires on October 19, 2024, where discussions emphasized the need for innovation in the regulatory landscape.
President Javier Milei participated in the conference, addressing the philosophical conflict between innovators and regulators while expressing his support for the crypto sector.
In a notable regulatory milestone, the General Inspection of Justice (IGJ) recently approved the founding of a company that uses Bitcoin and USD Coin as part of its capital.
The article also stresses the importance of a rational view of blockchain technology and an awareness of the risks associated with virtual token issuances.
Additionally, the CNV is developing guidelines for asset tokenization, beginning with security tokens and considering future regulations for real-world assets.
Rodríguez Ariola emphasized the need for 'intelligent regulation' that protects investors while fostering growth in the crypto industry.
The CNV is actively seeking feedback from the industry on proposed regulations for virtual asset service providers (VASPs) to ensure compliance with Financial Action Task Force (FATF) standards.
This initiative follows the earlier launch of a VASP registration program aimed at establishing a more structured regulatory environment.
The new regulations are designed to prevent money laundering and terrorist financing by implementing robust policies and cybersecurity standards.
Summary based on 2 sources
Get a daily email with more Crypto stories
Sources
Cryptonews • Oct 23, 2024
Argentina Regulator ‘Changing Its Stance on Bitcoin’ChainCatcher • Oct 22, 2024
Argentina drafts new cryptocurrency regulations to regulate VASP operations - ChainCatcher