The government will enable a financial asset tokens market, that will allow issuing companies to have one more option to place Negotiable obligations (ON) or actions Through digital formats
To do this National Securities Commission (CNV) He put the regulations for the market actors, to collect opinions and eventually introduce changes and improvements.
Keep in mind that a token of a financial asset, It is not a crypto but is the digital representation of a traditional asset. For example, a company can make a classical broadcast of ON for 70% of the money you are looking for in the capital market and 30% through a digital asset.
In that case, the token will be Under the regulation of the CNV because it constitutes a contract where the issuing company promises a specific profitability within a specific period.
The CNV called Public consultation through General Resolution No. 1060. The agency reported that the measure establishes “a clear and innovative framework” and its implementation will be through distributed registration technologies (TRD) or similar ones. In this way it seeks to guarantee your Functional equivalence with traditional, cardboard or writing representations.
He President of the CNV, Roberto Silva, He stressed that it is a “novel regulation. We believe that in addition to being a milestone of our management in the CNV, It will be a milestone in market history of capital of Argentina ”.
What will be able to tokenize?
Under that regime, tokenization will be admitted through the total or partial additional digital representation of Actions, negotiable obligations, quota of common investment funds, representative values of debt or certificates of participation of financial trust with public offer.
The regulations provide that digital representations of negotiable values They are negotiated on the mobile platforms or applications of suppliers of virtual asset services (PSAV) registered with CNV. It is contemplated that terms and conditions are set in an issue document prepared by the issuer.
The CNV clarified: “There are no two titles. There is no underlying, but it is an additional representation of a pre -existing negotiable value.” “Will not require differential public offering authorization Beyond that it must have been planned and requested from the initial commission (initial digital representation) or subsequently (subsequent digital representation) to digitally represent existing negotiable values, ”explained the market regulatory body.
Tokenization will be in charge of an entity specialized in distributed registration technologies (TRD) or not as PSAV. The PSAV registered intervening will be responsible for marketing negotiable values digitally represented and of the administration, custody and management of the digital environment. In addition, it is admitted that the holder of digital representation may request at any time the replacement of that by traditional formats.
Public consultation: presentation before the market
Meanwhile, The CNV directory presented in front of more than 60 capital market representatives and of the virtual asset industry and officials of the Financial Information Unit (FIU) and the Customs Collection and Control Agency (ARCA) the regulations that are in public consultation.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
