Argentina to regulate crypto with executive order, Bitget expands in Latam, Honduras maintains private bank crypto ban.

Argentina to regulate cryptocurrency exchanges through a decree

The government of Argentina is reportedly preparing an emergency decree to regulate cryptocurrency service providers. Under this proposed framework, these providers would be brought under the oversight of the national securities watchdog (CNV). This move is aimed at creating a more secure and regulated environment for the operation of cryptocurrency exchanges in the country.

President Milei’s focus on regulating cryptocurrency service providers is driven by a desire to keep Argentina off the gray list of the Financial Action Task Force (FATF). The country was included on the list from 2010 to 2014 due to its lax money laundering policies. With the upcoming visit of the FATF to assess the country’s countermeasures against money laundering, the government is taking measures to ensure that its cryptocurrency industry is properly regulated and compliant with international standards.

The proposed emergency decree in Argentina would require all cryptocurrency service providers to register with the national securities watchdog and obtain a license to operate, even if they are based outside the country. These providers would also have to comply with anti-money laundering laws by providing information to the national intelligence unit, producing risk reports, and reporting suspicious movements. These measures are aimed at creating a more regulated and secure environment for the operation of cryptocurrency exchanges in Argentina.

Crypto Exchange Bitget Announces Latam Expansion

I read your message about Bitget, a cryptocurrency exchange based in Seychelles,
planning to expand its operations in Latam.
It’s interesting to note that the company aims to focus on beginners
in the field and provide tools to make it easier for less crypto-savvy investors to handle their portfolios and investments.
It’s a smart strategy to make cryptocurrency trading accessible to more people and expand their reach in the region.

Maximiliano Hinz’s plan to double Bitget’s employee headcount in Latam from 80 to 160 in the next two years. Hinz believes that the copy-trading feature can help achieve this goal, allowing users to follow more experienced investors’ trading moves using part of their portfolio.

Honduras has recently reiterated its ban on cryptocurrencies

National Banking and Insurance Commission of Honduras has reiterated its decision to prohibit financial institutions from handling cryptocurrency assets and has clarified the scope of the measures announced last week. According to the commission, bitcoin is considered “unregulated electronic money” and is a product of a network without any restrictions or borders. The commission has warned that cryptocurrency transactions can pose risks to users, as they are not protected by any legal framework in Honduras.

the National Banking and Insurance Commission of Honduras has ratified its decision to prohibit financial institutions from acting as intermediaries to carry out transactions with cryptocurrencies or holding cryptocurrencies as part of their treasury. The commission has clarified that financial institutions are not allowed to hold instruments whose value depends on the performance of these assets either. These measures are part of the commission’s efforts to protect the financial system and its users from potential risks associated with cryptocurrencies, which are not regulated by the country’s monetary authorities.