The Deficient Role of Latin America in Regulation of Cryptocurrency
Date of Publication
1-1-2023 12:00 AM
Security Theme
Cybersecurity
Keywords
Compliance, Blockchain, Regulation, Legislation, Cybersecurity
Description
The inherent changes brought by the implementation of technology in everyday life have repercussions in all areas, one of them, to mention a few among the most significant, is in the financial market, which it is among the most regulated sectors by both national governments and international entities. However, the recent operations carried out with assets other than those traditionally known that involve the use of technological tools cause a confusion regarding the reliability of the same given the lack of support from any regulatory entity. The actions that have been implemented by some governments, especially from developed countries, demonstrate the deficiencies that legislation can have on certain occasions. While only a few Latin American countries present initiatives, as well as almost no activity in this regard in a market that is increasing worldwide.
The Deficient Role of Latin America in Regulation of Cryptocurrency
The inherent changes brought by the implementation of technology in everyday life have repercussions in all areas, one of them, to mention a few among the most significant, is in the financial market, which it is among the most regulated sectors by both national governments and international entities. However, the recent operations carried out with assets other than those traditionally known that involve the use of technological tools cause a confusion regarding the reliability of the same given the lack of support from any regulatory entity. The actions that have been implemented by some governments, especially from developed countries, demonstrate the deficiencies that legislation can have on certain occasions. While only a few Latin American countries present initiatives, as well as almost no activity in this regard in a market that is increasing worldwide.
