The Upper House approved the text of the Chamber of Deputies on the bill “That regulates the mining, commercialization, intermediation, exchange, transfer, custody and administration of crypto assets or instruments that allow control over crypto assets.”
Senator Fernando Silva Facetti, as spokesman for the Legislation Commission, mentioned that the modifications introduced by deputies refer to the definitions in order to further clarify the scope of the project and that the functions that the different bodies that are going to participate will have are limited. .
The modifications range from the section, as stated by the legislator, where it is established that the application authority will be the Ministry of Industry and Commerce (MIC); ANDE will be in charge of enabling the energy; while the Secretariat for the Prevention of Money or Asset Laundering (SEPRELAD) is the one that will accompany the entire process from the investment in the purchase of the equipment and the National Securities Commission will be in charge of the commercialization of the assets.
Among the substantial changes, he cited article 5, of the powers of the MIC, which will sanction those individuals or legal entities that carry out mining activities or provide cryptoactive services outside the regulatory framework of this law. Likewise, the Secretary of State for Taxation (SET) is included in the project, among other formal corrections. “The meaning of the bill in the Chamber of Deputies has improved a lot,” highlighted Senator Silva Facetti.
In her turn, Senator Esperanza Martínez recalled that the Guasu Front Bank did not agree with the project at the time and said that cryptocurrency is not an industry, it does not process a raw material adding value or provide employment. “Both versions are detrimental to the country,” she said. Along the same lines, Senator Enrique Bacchetta recalled that he had voted for rejection at the time and stated that this initiative does not produce jobs.
However, senators Abel Gonzáles and Enrique Salyn Buzarquis highlighted the importance of sanctioning the draft regulation, because with cryptocurrencies there is full traceability of operations, as they are traceable, he explained.
Finally, after an extensive debate, the Chamber of Senators decided to accept the modifications introduced by Deputies.
In this way, the text of the Lower House is sanctioned and passes to the Executive Power for its promulgation or veto.
It should be noted that this initiative was presented by senators Fernando Silva Facetti, Antonio Apuril and then-legislator Juan Bartolomé Ramírez.
