In the next few days, the Central Bank of Morocco could be presenting its proposed laws for cryptocurrencies.

The governor of this institution, Abdellatif Jouahiri, announced that there are a series of discussions with market participants, regulatory bodies, the Moroccan Capital Markets Authority (AMMC), the Insurance and Social Security Supervisory Authority (ACAPS), among others. .

The project will offer a definition of cryptocurrency “adapted to the Moroccan context” and will aim to protect people without limiting innovation. Although the details of the bill have not been revealed, it could hardly be more restrictive than current legislation, which outright prohibits the trading of cryptocurrencies.

It should be noted that last year, Morocco became the African country with the fastest growth in the cryptocurrency market, going from 2.4% of the population borrowing digital assets in 2021 to 3.1% a year later.

K. Tovar

Source: Cointelegraph

(Reference image source: elconfidencial, via web)

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La entrada Morocco will soon introduce cryptocurrency laws apareció primero en Bitfinance.

The manager of the Central Bank of Ecuador, Guillermo Avellán, reported that the institution is working on a draft to apply cryptocurrency regulations in the country.

Avellán also spoke about the advances in digital assets in comparison with neighboring nations such as Colombia and Peru, who are also in their own regulation process.

“The Central Bank is working on a project that allows cryptocurrencies to be regulated, bearing in mind that the Monetary Code establishes that the dollar is the only legal tender in the country. But we are working on a regulation that will be presented to the Monetary Board for review and approval,” said the manager.

The head of the Central Bank emphasized that Ecuador does not plan to recognize cryptocurrencies as legal tender, as Nayib Bukele did in El Salvador.

“We must bear in mind that cryptocurrencies are an investment asset, but given their high volatility, it is very difficult to consider any of them as legal tender,” Avellán added.

K. Tovar

Source: DiarioBitcoin

La entrada Central Bank of Ecuador works on regulations for cryptocurrencies apareció primero en Bitfinance.

The Argentine Chamber of Fintech recently presented a proposal for the regulation of crypto in the country, in view of its need for the number of Argentines who manage accounts in exchanges.

In this proposal, the need for local financial authorities to apply a control of the possessions of cryptocurrencies is pointed out, on the basis that the regulation would provide a “balance” that would allow attracting investments.

In the “whitepaper” of the proposal they indicate that “an eventual regulatory rearrangement of the virtual asset services market would require the issuance of a national law, which establishes the basic guidelines and the obligations, responsibilities and powers of each actor”.

In order to carry out this, the Argentine Chamber of Fintech highlights the fact that it will require a “dictation of national law”, in view of the change in the concept of “money and value” generated by blockchain technology.

The Argentine Fintech Chamber admits that the adoption of virtual assets in the country is one of the highest in the world, since there are around two million accounts in the country, plus the accounts opened in foreign exchanges.

K. Tovar

Source: Beincrypto

La entrada Argentine Chamber of Fintech presented proposal for crypto regulation apareció primero en Bitfinance.

Anonymous sources claim that the Indian government would be preparing a bill that would force cryptocurrency holders to liquidate their assets within six months.

In case they do not follow the measure the government could take the power to apply fines, as well as establish a committee to request jail time of up to 10 years.

It is known that Indian authorities are not very fond of cryptocurrencies. Thus, if confirmed, all this action would be considered the most severe one in the country so far.

The bill is expected to criminalize the possession, issuance, mining and trading of cryptocurrencies. Many consider that these actions come in the worst of times since bitcoin, and other crypto assets are presenting quite a few movements in the market.

K. Tovar

Source: Panampost

La entrada India could penalize the use of cryptocurrencies apareció primero en Bitfinance.