The Argentine Securities Regulatory Authority launches an innovation center to discuss crypto investments

The National Securities Commission, Argentina's securities watchdog, recently launched an innovation center with the aim of promoting conversations around cryptocurrency and fintech investments. This organization will act as a liaison between private entities and the corporation, to develop new fintech and crypto-regulated tools to market. The Argentine securities regulator gives special attention to financial and crypto technology.

The National Securities Commission, Argentina's securities regulator, is reportedly taking measures to simplify market access for new investment vehicles based on fintech and cryptocurrencies. The organization recently launched an innovation center that will connect private sector investors with regulators, to exchange information about the requirements that these products must meet to be put on the market. CNV President Andres Constantino is optimistic about the future of this initiative: We are acting proactively in the context of the emergence of crypto assets and financial technology, to work together with the sector and create a regulatory and policy framework in this regard.

One of the main concerns behind this new center, and one of the motivations for launching it, is the number of cryptocurrency scams that have occurred in the country since cryptocurrency adoption peaked. In this regard, Consentino stated: This initiative also aims to improve the investor protection framework against the phenomena of extremely unfortunate circumstances that usually occur.

Cryptocurrency investment products coming soon. This innovation center may open a new era of regulated cryptocurrency-related investment products in Argentina. This is the opinion of Andres Ponte, President of the company 

Matba RuFx, an investment brokerage firm, stated that these products will be launched in the short term. There are two goals behind regulating cryptocurrency investments in the country according to local sources. The first is to protect investors seeking to put money into crypto markets by launching regulated products.

Another advantage is the benefit that the national tax agency may enjoy from these products which, by their nature, cannot be hidden from the national tax agency. With regulated instruments in place, the ability to collect taxes on these cryptocurrencies will be almost certain, different from what happens now, when most cryptocurrency movements and investments are made on exchanges and platforms outside the country. In this line of thinking, a bill was introduced in the Senate on April 1 that seeks to tax all property owned by Argentines in foreign countries, including cryptocurrency, to pay part of the debt the country has with the International Monetary Fund.

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