Argentine regulator creates Innovation Center to simplify tax control – Bits Media

National Securities Commission of Argentina (CNV) launches a program to simplify the entry of new investment projects into the market, related including cryptocurrencies.

The program operator will be a specially created Innovation Center, which the should link private investors with regulators to exchange information on requirements, which certain products must comply with before entering the market.

Commission President Andres Consentino (Andres Consentino) speaks, that the initiative is related to the widespread adoption of cryptocurrencies and financial technologies. CNV wants to work on creating a regulatory framework together with business. The commission cites fraud with cryptocurrencies and the desire to improve the investor protection system as one of the main problems and the reason for launching the Center..

President of the investment brokerage company Matba Rofex Andres Ponte (Andres Ponte) considers, that the Center will be able to usher in “a new era of regulated cryptocurrency investment products in Argentina”. According to him, Matba will soon release such products.

The regulator calculates, that the initiative will help not only investors, those wishing to invest in regulated crypto markets, but will also replenish the country’s treasury, since in regulated markets transactions will be clearly visible to the Argentine tax authorities. Currently, most transactions with digital currencies in the country are carried out on exchanges and platforms, outside the country.

Recall, it became known earlier, that a small Argentine town is trying to rebuild its railway infrastructure using income from cryptocurrency mining.