Argentinian congressman to present crypto bill in parliament

Congressman Ignacio Torres will present a bill on the legal framework for cryptocurrencies in Argentina

An image of bitcoins on Argentinian Flag background
Argentina is yet to release a formal legal framework for cryptocurrency regulation

Some of the youngest of Argentina’s deputies are deciding on a new legislation that should deliver on a national framework designed for crypto—which is reported to be discussed in the parliament in a week or so. Ignacio Torres, an Argentinian congressman will present a bill that addresses cryptocurrencies, paving the way to implement cryptocurrency regulation in the country.

It has been reported that Cointelegraph en Español has spoken with Efrain Barraza, Athena Bitcoin’s Operations Manager in Argentina—along with the CEO of Bithan, Alberto Vega. They have all come together to collaborate on a legislation draft to discuss the legal framework for the implementation of cryptocurrencies in Argentina. Barraza and Vega have been known to converse regarding their vivid interest in the blockchain technology and cryptocurrencies being declared legal in Argentina—they’re striving for such a decision to ensure that the country is not left behind considering the advances that various countries have made.

Efrain Barraza quotes: “We understand that the ecosystem, to grow, cannot be outside the law”. He highlighted the importance of users and investors having some kind of protection. “If there is no regulation, things like scams arise, like Onecoin, for example”. While on Alberto Vega’s end, he exclaims that: “It is important to take into account where Argentina stands now and how we can get the benefits of being a pioneer country in the crypto sphere”. Also, he says that: “Today we can see that the issue of Bitcoin regulation is not even on the table, nor in the political debate at a national level when in other countries they are already hard at work on it”.

Vega has an understanding that for Argentina to further advance as a society, the country has to take an initiative and make efforts to put their economic system into a more advantageous state, overall benefitting the country. “We have been in the ecosystem for a long time and we see the problems in the industry. Some companies have their bank accounts closed for no reason. These are very arbitrary rules”, said Vega.

That would be the reason why he believes it to be necessary that everyone at the table should discuss such technologies. He asserts that everyone may be benefitted from the projects that have arisen in Argentina.

Barraza claims that when considering common assets, each of them should have their own set of regulations so that people would have distinct rules to defend themselves from any misdeeds. He also warns that in the crypto world: “The nature of the token is that it can work for many different things in the real world”, he explained. “We are trying in some way, to give it a framework”.