Hello dear readers, in the last two years states in their quest to create mechanisms to regulate the cryptocurrency market, have chosen to present hundreds of regulatory projects and legislative instances on a global scale, a fact that has created a confusing and unstable scenario.
However, so far it has been the states that have been introducing these regulatory proposals without first having listened to what users think, an exceptional case is being generated in South America if we take into account that a new Bitcoin law in Colombia wants to reach Congress by the hand of 500 people.
In this regard, it is noteworthy that the members of the association of entrepreneurs of the blockchain ecosystem (AsoBlockchain) in Colombia are convinced that legislating on Bitcoin is a task that concerns citizens and not state regulators.
Therefore, they have gathered ideas from different industry players to draft a new bill to simplify the relationship of cryptocurrency startups with government institutions and banks..
In Colombia, the regulation of the cryptocurrency sector was left in the hands of the banks, as mentioned by members of the community. However, establishing rules for companies operating with cryptocurrencies, from a banking perspective, is not always favorable for the industry.
The above clearly indicates that it is the users who are taking over the regulation in Colombia, the draft law Bitcoin and blockchain in Colombia is one step away from going public, according to the director of the association that brings together entrepreneurs in the blockchain ecosystem.
In the words of experts, this will be the first time in history that citizens will organize and come together to propose an alternative financial system.
SOURCES CONSULTED
Marianella Vanci New Colombian bitcoin law aims to reach Congress with 500,000 signatures. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Criptonoticias
The main problem with regulation is that most regulators do not really have a good understanding of what cryptocurrency is or how it works. This is why they often echo the traditional and worn-out arguments about "money laundering" and "terrorist financing".
It is good to know that citizens will be responsible for regulating and shaping the financial system. I'm sure this will work to crypto's advantage in the future...
Thanks for sharing :)
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Hello my friend, this seems to me an important movement, since, for example, leaving in the hands of the banks to legislate on an alternative financial system seems to me to generate a conflict of interest, it is great that the users themselves are the ones who propose the mode of organization, hopefully their voice will be heard and their example will be replicated.
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Hi @emiliomoron
That's right, these actions are somehow the right way for defending everything we have achieved within blockchain technology and finance.
Best regards, be well.
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