Argentina could be the next country in South America to get the necessary policy infrastructure in place for crypto-currencies.
The South American nation mostly known for its good food and football, could be seeking to become a digital currency haven through one of its congressmen. Congressman Ignacio Torres plans to present a bill to the floor of the Argentine parliament in a move that could see progress made for crypto enthusiasts and business people in the country.
The planned move is already eliciting reactions from some enthusiasts of note in the country. Efraín Barraza, Operations Manager of Athena Bitcoin in Argentina is not just an enthusiast; he actually participated in the drafting of the bill. Barraza was joined by Bithan CEO Alberto Vega in the drafting of the bill and the creation of the legal framework. Both enthusiasts agreed that a proper framework was needed beyond a parliamentary discussion on crypto. According to them, other countries were moving forward with the technology, and Argentina would be remiss to not pay attention.
According to Barraza, Argentina needs a legal framework around crypto. The framework that is designed needs to cater to and protect users according to him.
“We understand that the ecosystem, in order to grow, cannot be outside the law. If there is no regulation, things like scams arise, like Onecoin.”
His counterpart in the drafting of the bill Alberto Vega not wants a proper framework set up. He wants the country to evaluate its standing in the space and seek to become a pioneer in the region.
“It is important to take into account where Argentina stands now and how we can get the benefits of being a pioneer country in the crypto sphere.”
“Today we can see that the issue of Bitcoin regulation is not even on the table, nor in the political debate at a national level, when in other countries they are already hard at work on it.”
Vega believes that the country can benefit from what’s already in place and build even better rails to help the country prosper through crypto and Blockchain technology.
“We have been in the ecosystem for a long time and we see the problems in the industry. There are companies that have their bank accounts closed for no reason. These are very arbitrary rules.”
Vega believes that all stakeholders need to come together to discuss disruptive technologies like the Blockchain.
These Argentinian business leaders are looking around the world as are many others in different countries, as big leaps are made through Blockchain. CBDCs are a becoming a huge topic, with even small jurisdictions like Bahamas going that way. Such developments naturally stoke the interest of many around the world.
Image Courtesy of Pexels