Sunacrip publishes cryptoactive regulation law

The regulation establishes the responsibility of the users when agreeing on the value of crypto exchange for fiat money

The National Superintendency of Cryptoactives and Related Activities (Sunacrip in Spanish) published the regulation on cryptoactives in order to establish commissions for the use of the Patria platform as well as the responsibility of the users when agreeing the exchange value of cryptoactives for fiat money.

Providence 097-2019, published in Official Gazette 448928, specifies the parameters for crypto allocation and exchange transactions. “In order to guarantee operations with crypto assets, as well as their transaction, the Sunacrip may use the platform of the Patria platform.”

Commissions

Sunacrip indicated in the document that in the Homeland System “a commission may be set for an amount that will not exceed 2% of the operation. This will be used for the maintenance costs of the platform.”

According to what is established in Official Gazette, public and private banking will also be included in these parameters. “Products that the banking sector institutions make available for acquisition through the Patria platform will be applied. These will cause commissions that will not exceed 4%.”

In addition, the regulations state that “people registered in the Patria platform aaccept that any type of negotiation for fiat money corresponds to a valuation process assessed according to secondary market parameters. Therefore, it is your responsibility for any type of fee or valuation you make or receive.”

K.Villarroel

Source: Elnacional

 

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