The Argentinian Securities Commission (CNV) recently established an innovation hub to promote conversations on cryptocurrency and fintech investment. This institution will be a bridge between private entities, and it will help to promote new fintech instruments and crypto-regulated ones to the market.
Argentinian Securities Regulator Gives Fintech and Crypto Special Importance
According to reports, the Argentinian Securities regulator the National Securities Commission (CNV) is taking steps to speed up the introduction of crypto-based and fintech investment instruments onto the market. Recently, the institution launched an innovation center that links private investors and regulators to share information on product requirements before they are released to the market.
Andres Consentino is the president of CNV and was optimistic about this project’s future. He said:
In the wake of the rise of fintech and crypto assets, we are proactive and will work with them to create a policy and regulatory framework.
This new hub was created in response to the growing number of scams involving cryptocurrency that took place since the adoption of crypto currency peaked. Consentino said that this is a serious issue.
This initiative also has the goal of improving the protection for investors against very unfortunate events that often occur.
Crypto Investment Products coming soon
The new era in Argentina’s crypto-linked investments could be brought to life by this innovation hub. Andres Ponte, the president of Matba Rofex (an investment brokerage company), stated this opinion. These products are expected to be released in the very near future.
According to local sources, there are two main objectives for regulation of crypto investments in this country. The first is to protect investors who are looking for funds in cryptocurrency markets by launching regulated products. A second benefit is that these products may be of tax value to the national tax agencies, which cannot be concealed by the AFIP.
These regulated instruments would make it possible to collect taxes on cryptocurrencies. It is a different situation than what happens now. Most of the crypto investments and transactions are conducted in foreign exchanges or platforms.
This is how a bill project that would tax any property Argentinians own in other countries (including cryptocurrency) was introduced to the Senate in April. It would allow the government to partially pay the International Monetary Fund debt.
How do you feel about Argentina’s launch of an innovation center? Comment below.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.