• The Argentine Senate is discussing a project to regulate the way individuals and organizations promote cryptocurrency.
• The objective of this project is to educate consumers on the dangers of investing in crypto and to protect them from investing in crypto Ponzi schemes.
• The meeting proposed that any crypto-related publicity would have to include slogans explaining the risks that such investments carry.
The Argentine Senate is currently discussing a project that aims to regulate the way in which individuals and organizations promote cryptocurrency. The main objective of this project is to provide consumers with the necessary education to understand the potential risks associated with investing in cryptocurrency, as well as to protect them from being scammed by Ponzi schemes.
The meeting, which saw the presence of Sebastian Negri and Martín Breinlinger, members of the Argentine Securities Commission, presented several cryptocurrency schemes that had promotion and advertising through different media. It was proposed that any crypto-related publicity should include slogans and warnings that explain the risks that such investments carry.
Senator Eduardo Andrada and others spoke in favor of the project, arguing that it would provide potential investors with the necessary information to make an informed decision. Negri emphasized the benefits that the approval of such a law would bring to potential investors, stating “With the rise of Bitcoin from 10,000 to 69,000 dollars, what they did was promise people that the profitability that occurred the previous year would continue, and this is not the case.”
Meanwhile, other senators and attendants had different views regarding the project, arguing that it could be interpreted as an implicit endorsement of cryptocurrency investments, and that it could potentially lead to an increase in the number of scams.
The discussion is still ongoing, and it is yet to be seen if the project is approved and implemented. If it is, it will be a step forward in providing more protection to consumers and helping to prevent the spread of fraudulent cryptocurrency schemes.