Said regulatory framework seeks to establish prudential, information provision and cybersecurity requirements.
The National Value Comission (CNV), the Financial Information Unit (FIU) and representative authorities of Virtual Asset Service Providers (PSAV) deepened, through a meeting, the need to establish a regulatory framework that regulates and provide legal certainty to the industry of virtual assets.
According to a statement, said regulatory framework seeks to establish prudential requirementsprovision of information and cybersecurity, as well as measures to prevent the money launderingfollowing international standards.
In this sense, the aforementioned organizations recognized the importance of achieving coordinated work between the public and private sectors. In that order, it was mentioned as essential that the public sector understand the particularities and risks of the virtual assets sector, while on the other, the private sector must understand the need to have a regulatory framework.or robust that meets international standards.
According to the information that was released After the meeting, it is a priority to regulate the sector to strengthen investor protectionincrease transparency and ensure traceability and monitoring of operations.
Virtual Asset Service Providers have the potential to drive adoption, security, innovation and financial inclusion in the virtual asset space. However, it is important to note that the success and impact of these services depend on several factors, such as proper regulation, user trust and protection, as well as the evolution of virtual assets globally.
In the meeting, concepts were also discussed and tools for the Fourth Round of Mutual Evaluation of the FATF/GAFILAT were presented, focused on the effectiveness component. It was discussed how the summoned sector implements preventive measures in relation to Immediate Result 4.
On behalf of the FIU, Nicolás Vergara, head of the advisory cabinet; Cristina Tonini and Claudio Franconeri, members of the Advisory Council; Elio Grillo and Alberto Mendoza, directors of International Supervision and Coordination, respectively; and Delfina Cabral y Vedia, advisor to the presidency. From the CNV, Regina Cerone, Manager of Prevention of Asset Laundering; Ricardo Lazzari, Assistant Manager of Investor Protection and Financial Education; and Guillermo Julián Chambó, adviser.
Source: Ambito
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