The Government is evaluating measures to prevent fraud with cryptocurrencies and avoid harm to investors. This initiative arises at a time when the opposition criticizes President Javier Milei for supporting the Libra token, supposedly causing losses of around 100 million dollars.
The National Securities Commission (CNV) is working on stricter regulations for the cryptocurrency market. The proposal includes requiring companies to disclose information about their agreements with third parties and details about their clients, in order to obtain more data on the backing of these companies, many of which are little known.
The Argentine Fintech Chamber supports this regulatory measure, as it considers it fundamental for the growth of this industry in the country. The entity's concern lies in the impact of the "cryptogate" on a sector in which Argentina stood out.
In the case of the $LIBRA token, at the time of its launch it was not widely available in the main registered wallets in Argentina; nonetheless, Milei promoted it. The new regulation will establish a minimum net worth requirement for registration with the CNV.
