The Argentine organizers stated that it lacks the authority to interfere in the issue of the Mirage of the ongoing, which sparked a tremendous controversy after the participation of President Javier Millie. According to the organizers, the distinctive code sales of $ Libra exceed their jurisdiction.
Argentina: It is not possible to interfere in the issue of the balance $ due to the lack of a clear organization
The National Securities Committee in the Argentine (CNV) confirmed that the current regulations do not cover cases such as promoting digital assets on decentralized platforms. In the case of the balance $, the problem started when the distinctive symbol was announced through social media and was circulated on the unorganized Solana Blockchain, without any registered broker in Argentina.
According to the local media ReportsThe current organizational framework simply does not address the advertisement of codes on decentralized networks, which leaves the organizers without anywhere to take action.
CNV has always called for the strongest supervision of the encryption industry, especially targeting virtual asset providers (PSAV). Although the agency is pushing for more striking rules, it has not yet interfered with the issue of $ Libra according to the manufacturer, when $ Libra was launched, it was not available on the prevailing wallet like lemon, which is recorded as PSAVS in Argentina. Instead, it was only available on decentralized exchanges (Dexs) and the Solana Blockchain.
Since the processes that involve decentralized platforms usually require a high level of technical knowledge, the organizers have not taken any immediate action in the case of the balance $. However, the controversy to the surface brought a large gap in the regulations surrounding the promotion of cryptocurrencies on decentralized platforms. This has raised concerns about the impact of this irregular activity on the local market for Argentina.
As for the regulatory framework, CNV has worked for about a year to create a PSAVS record to regulate the ecosystem for encryption in Argentina. So far, more than 120 companies have joined the list, which represents the progress towards a more organized and official sector.
Also read: $ Libra’s Hayden Davies denies the bribery of Javier Millie; She says media reports are “political motives”
