Argentine Congressman Introduces Cryptocurrency and Blockchain Bill

Argentine Congressman Ignacio Torres Prepares A Bill to Regulate the Cryptocurrency Industry. It will be presented to the Argentine parliament next week.

The operating director of the Argentinean Athhena Bitcoin Cryptomates network Efrain Barras (Efraín Barraza) and CEO Bithan Alberto Vega (Alberto Vega). They noted the need to create a clear legal regulation of blockchain and cryptocurrencies in Argentina, Considering, that other countries have long dealt with this issue.

Barrasa thinks, that the correct development of the cryptocurrency industry should occur within the law, And for this it is necessary to protect traders and investors. Lack of regulation creates favorable conditions for scammers and cryptocurrency pyramids. In turn, Vega noted, that the regulation of bitcoin and other digital currencies is not discussed at the state level and on political debate. Vega is convinced, that if the authorities of Argentina begin to use the advantages of cryptocurrencies, This will be of great benefit to the country.

“We have been working in the crypto industry for a long time and we know about its problems. There are many firms, whose bank accounts are closed for no reason. This speaks of arbitrariness. We need to sit with the government at the negotiating table, to discuss the regulation of cryptocurrencies and the latest technologies, After all, everyone will benefit from this ", – Barras said.

He explained, that in the case of traditional assets, regulatory authorities cannot go beyond the established framework and exceed their powers. However, in the world of cryptocurrencies, everything is different. The nature of digital currencies is this, that they can be used for completely different things in the real world, Therefore, you need to try to lay at least the general foundations for monitoring cryptocurrencies. Review, that the new bill is aimed at the massive introduction of blockchain and digital assets, which can improve and even replace existing business processes in various fields of activity.

According to a recent Paxful survey, 74% Argentines are counted, that in current political and economic conditions, cryptocurrencies are the best way of long -term investments. Besides, According to Arcane Research, In April, the demand for bitcoin in Argentina grew due to default fears in the country.