Ignorance affects crypto regulation in Mexico

María Belén — Mon, 25 Apr 2022 20:00:48 +0000

Enthusiasts of the cryptographic system in Mexico participated in the Fintech Law and the Role of Regulators of the Bitcoin Forum, organized by the Senate. They highlighted that mistrust, ignorance and uncertainty are the aspects that have prevented the country from having a regulatory framework dedicated to cryptocurrencies and the entire ecosystem, which creates a gap between society and the new digital economy.

The accountant and fan of Bitcoin, Vanessa Solís Caballero, expressed that “Mexican regulators are afraid that a regulatory framework threatens or harms in some way the financial system of that country, something that does not necessarily happen.” But, in her opinion, there are “examples that a regulation may or may not damage the financial system.”

According to Solís, in Mexico “there is ignorance, fear, uncertainty, and that is why distance is created. “But there are countries that, without the need to compromise the financial system, have created regulatory frameworks.”

Solís admits that there are different legislative documents that address the issue of taxes. But she points out that “there is nothing clear about the use of cryptocurrencies” and citizens require clear regulations that congratulate the management and operation of digital assets.

“We are in an area of uncertainty, and we need certainty, and that is going to be provided by the laws, making everyone apply them. We are fans of decentralization. But the people who are doing things right, who are not laundering money and are using the assets to improve transactions by taking advantage of technology, want to regularize themselves, but they don’t know how,” the accountant highlighted.

Regulation must be systematic

Another of the panelists who participated in the forum was the lawyer Rebeca Álvarez, director of the Loxical law firm, dedicated to new technologies, who recommended that the regulation of digital currencies in Mexico should be “systematic” and in her opinion the project of “Fintech law does not cover the entire cryptographic spectrum, so it is insufficient.”

Álvarez described the legislation as “paternalistic” because it is based on the protection of users over companies or legal institutions that operate cryptocurrencies in order to avoid “risks for people who use new technologies to pay and consume.”

The lawyer considers it of great importance that the authorities get involved in the discussion about the regulation of the cryptographic ecosystem in general that allows legislators to create confidence in this type of technology. “It is important that there are legislators, the public sector, that there are judges, without these three elements, the Mexican legal system cannot function,” she stressed.

According to Álvarez, it is necessary to define “clear, broad, flexible concepts that are in accordance with business models focused on cryptocurrencies” and I urge legislators to participate in a “dialogue to generate trust in this technology.”

M. Rodríguez

Source: criptoides.com

La entrada Ignorance affects crypto regulation in Mexico apareció primero en Bitfinance.

Spain will be a benchmark in digital legal security

María Belén — Wed, 20 Apr 2022 20:00:59 +0000

The Secretary of State for Justice, Tontxu Rodríguez, has indicated today that Spain wants to be an international benchmark in digital legal security. He pointed out that the investment made to advance in this field during the coronavirus pandemic must position the Spain brand “in the world, especially in the European and Latin American environment.“

At the inauguration of the 1st Digital Transformation Forum of the Administration of Justice, Rodríguez explained that this transformation also allows “overcoming gaps in access to the public system that persist today” such as the territorial gap, with special incidence in rural or more depopulated areas, or in the island communities.

Rodríguez added that the risk that the digital divide may pose must be taken into account, especially with regard to the most vulnerable groups of people, those who live in rural areas with connection problems, or those who are at risk of social exclusion.

“The digital transformation of Justice becomes the backbone of a large part of the procedural improvements, such as those that promote the widespread use of videoconferences or telematic communications, avoiding unnecessary travel and improving territorial cohesion. But it is also an essential element for the implementation of the Courts of Instance and the Judicial Office,” he said.

For his part, the legal director of the Spanish Confederation of Business Organizations (CEOE), José María Campos, stressed that for a country to be reliable in attracting investment, it must have “clear and practical” legislation and a predictable judicial system, agile and efficient, which is why it has been described as essential to invest in the Administration of Justice to avoid high litigation rates.

Boosting Spain digital transformation

The 1st Justice Administration Digital Transformation Forum aims to bring the creation of value between administrations, citizens and the private sector closer together, as well as to enhance the role of Justice in the Spanish digital transformation.

The Forum will work on four lines of action. The first is to reinforce digital legal security, so that Spain is a benchmark in the matter, exchanging information between the public and private sectors on problems and possible solutions.

The second refers to improving the effectiveness and efficiency of the processes so that they are faster and more effective, opening spaces for dialogue with citizens, companies and professionals in the Justice sector.

The third line of work will address direct investment in the field of information and communication technologies, to promote the digital transformation of the Justice sector, charged to the Recovery, Transformation and Resilience Funds.

While the fourth line will deal with the international dimension of the digital transformation of Justice, sharing experiences, solutions and good practices, both in Europe and in Latin America and the Caribbean.

Source: dpa

La entrada Spain will be a benchmark in digital legal security apareció primero en Bitfinance.

gap – Bitfinance

Ignorance affects crypto regulation in Mexico

Regulation must be systematic

Spain will be a benchmark in digital legal security

Boosting Spain digital transformation