{"id":456644,"date":"2023-11-12T16:34:36","date_gmt":"2023-11-12T16:34:36","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=456644"},"modified":"2023-11-12T16:34:36","modified_gmt":"2023-11-12T16:34:36","slug":"bitcoin-argentina-advocates-for-balanced-crypto-regulation","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-argentina-advocates-for-balanced-crypto-regulation","title":{"rendered":"Bitcoin Argentina Advocates for Balanced Crypto Regulation"},"content":{"rendered":"

In Buenos Aires, the capital of Argentina, Bitcoin Argentina’s president, Ricardo Mihura, unveiled a draft legislation during LABITCONF 2023<\/a> on November 10. This proposal by Bitcoin Argentina, an NGO committed to crypto advocacy, seeks to regulate the cryptocurrency sector while maintaining decentralization and building public trust. Historically, Bitcoin Argentina<\/a> had resisted regulatory measures for the crypto industry but has now pivoted, citing the need to curb dishonest practices and protect blockchain integrity.<\/p>\n

We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of giving a positive response, with only two purposes: preserving decentralization and protecting savings and public trust.<\/p><\/blockquote>\n

Mihura spoke about the urgency of addressing deceptive practices and projects falsely by those who use these tactics and label them with the words “blockchain” or “cryptocurrency”.<\/p>\n

The draft bill is structured to categorize crypto platforms and service providers into three groups based on their stance towards property rights: decentralized<\/a>, locally centralized (or those willing to communicate with authorities), and globally centralized. The legislation, if passed, would allow centralized platforms to operate with freedom but would guarantee customers extensive legal protection, including compensation claims against company failures. Decentralized platforms, on the other hand, would be exempt from intervention by Argentine courts.<\/p>\n

Crypto Cannot be Banned, Only Regulated<\/h2>\n

Mihura, in his address, pointed out the futility of completely banning cryptocurrencies, highlighting blockchain’s global reach. He remarked that “Not even the United States can effectively prohibit the operation of the unlicensed cryptoeconomy.” and continued to say that Argentina has no means<\/a> of restricting its residents from operating in the global free market facilitated by the Internet. As a response to these limitations, Bitcoin Argentina suggests a regulatory framework that provides optimal legal support for Argentine citizens.<\/p>\n

\n

@BitcoinAR<\/a> presentó el anteproyecto de #LeyBitcoin<\/a>.
La asociación civil, encabezada por su Presidente @RikyMihura<\/a>, presentó en el ámbito de #LABITCONF<\/a> 2023 el anteproyecto de ley que propone regular el mercado de la criptoeconomía.
👉https:\/\/t.co\/gFJUMJ1iTY<\/a> pic.twitter.com\/p84RkbUae0<\/a><\/p>\n

— Carlos Garsés (@carlosgarses) November 11, 2023<\/a><\/p><\/blockquote>\n