As a researcher with extensive experience in global financial markets and a keen interest in emerging technologies like cryptocurrencies, I am genuinely excited about Argentina’s recent moves to embrace digital assets.
In simpler terms, Argentina has given permission for U.S.-originated cryptocurrency products to be sold within its borders. This decision could potentially increase the flow of funds from international sources.
The board members of Argentina’s Securities Commission (CNV) have declared that Exchange-Traded Funds (ETFs) from the United States, which encompass funds involving cryptocurrencies, can now be traded within the nation.
Due to CEDEAR’s program governed by Regulation Number 1030, the Bitcoin and Ethereum Spot Exchanged Traded Funds (ETFs) will now be accessible for trading. For six years prior, these products were forbidden under Law No. 27440.
I’m delighted to share the initial approvals, marking fresh investment opportunities, that are now available under this exceptionally innovative law.
stated CNV’s president Roberto E. Silva, on official statement
Without specifying the particular Bitcoin ETF issuer, the commission is creating an opportunity for investing in digital assets via the traditional capital market.
In the same document, CNV also announced that gold ETFs are allowed to enter the capital market with the GLD ticker, as well as the S&P 500 index. Chinese stock market indexes with FXI ticker were also introduced.
As a researcher exploring this field, I am optimistic about the potential impact of legal innovations on the growth of passive management indices, commodities, and digital assets that are currently listed overseas but not readily accessible within our region.
Argentina’s public Bitcoin mining
In Latin America, one of the nations demonstrating its support for Bitcoin transactions, is Argentina. This digital currency mining activity, which is supported by the Central Bank of Argentina (BCRA), is openly displayed.
As a crypto enthusiast, I’m proud to be part of this pioneering Bitcoin mining setup, which stands as a testament to government endorsement and a leap towards the future of digital finance via cryptocurrencies. In essence, this was the vanguard central bank to demonstrate Bitcoin mining operations.
Today, the Central Bank of Argentina (BCRA) started showcasing Bitcoin mining equipment, including miners, in a creative manner. This makes BCRA the first central bank globally to take such an action.
— BowTiedMara (@BowTiedMara) November 1, 2024
In accordance with President Javier Milei’s strategic plan, an assertive action is being taken to combat rampant inflation, which peaked at nearly 300% in April 2024. This move also aims to spur the digital economy within Argentina. Since this initiative was implemented, as reported by Trading Economics, the inflation rate has shown a steady decline and currently stands below 200%.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- As Lindsay Lohan And Lacey Chabert Headline Christmas Movies, These Comments Have Me Convinced A Mean Girls Holiday Movie Reunion Needs To Be Next
- Taylor Swift Calls Eras Tour “Most Challenging Thing I’ve Ever Done” at Final Show
- Niels Arestrup Dies at 75, Iconic Actor Was a Force of Cinema
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Ben Affleck And Matt Damon Are Back To Work Together, And An Insider Weighed In On Their Longtime Connection
- India signals no fixed timeline for crypto rules, calls for global alliance
- Paul Atkins to Replace Gary Gensler as Next SEC Chair?
- ‘I Pitched Stargate’s Take On Black Panther’: Christopher Judge Opens Up About His Teal’c Spinoff And Why It Hasn’t Happened
2024-12-10 10:56