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Uruguay Still Waiting for Expected Crypto Regulation Breakthrough
Despite the fact that Uruguay is still in the process of creating its own MiCA-inspired law, a few significant adjustments are being made to regulate the crypto sector. Rothamel and many other experts agree that it’s not wise to try to regulate the entire cryptocurrency market at once. This approach risks stifling innovation, scaring off users, and hindering access.
Looking back at what happened in Argentina, we can see that instead of a big change, small steps have been taken so far. For instance, the National Securities Commission (CNV) has established a registry for virtual asset service providers (PSAV). This is seen as an important step towards regulating intermediaries and making it easier to integrate new services.
During a recent conference, Rothamel was asked about how Bitcoin fits into this regulatory landscape. He believes that there’s no fundamental contradiction between the cryptoasset and the state, since Bitcoin is merely a means of exchange, savings, and value transfer. Financial freedom is the ultimate goal, and in his opinion, it’s possible for the government to support this objective.
This softer approach differs from the maximalist philosophy, which envisions the complete abolition of the state. Rothamel’s stance aims at allowing everyone to use Bitcoin as they see fit.
In summary, while no major changes have taken place in Argentina so far, only small steps are being made. However, one year into the Milei government, there is still a positive outlook for the crypto sector.
Source: www.bitcoinbazis.hu
