After public consultations, the National Securities Commission (CNV) today approved General Resolution No. 1069, incorporated into Argentina. Real World Assets (RWA).
In this first stage, Regulations on tokenization schemes for financial trusts and common investment funds are closed In a public offering consisting of negotiations in the RWA or other acceptable products that are not negotiable in the effective market in Argentina.
Within the framework of Act No. 27,739, the objective is to provide clear and specific play rules for a digital representation of negotiable value, and currently constitutes an additional form of assets of this type into existing assets.
Tokenized assets are negotiated and protected by the platform and/or mobile applications of Virtual Asset Service Providers (PSAV) registered with CNV and cannot be withdrawn from them. Similarly, it is recognized that digital representative investors can always request that they replace it with traditional forms.
The platform must provide the asset terms of the issue document created by the issuer after applying for digital representation.
administration It will be implemented through a regulatory sandbox for a period of one yearduring that time, ejection can be done under this framework. Once this period has ended, new emissions will not be permitted, but any already-made emissions will remain effective. Any approved items that are not digitally represented in two years will be excluded from the frame.
“This is the first part of the regulations and is fundamental as it leads to public consultations with general resolution 1060 and places the nation again in the avant-garde of the region and the world,” said CNV president Roberto E.
“The regulations represent a milestone in modernizing the capital market and reaffirm this CNV’s commitment to innovation and development.” “It is Argentina’s pioneering and innovative regulations,” Silva said.
The president of CNV revealed that he received many comments during the public consultations incorporated into this general resolution, They are studying the contributions of Part 2 of the regulations.
In the context of the presentation, Silva thanked those who sent their contributions, their work team and the central government for allowing them to move forward with these initiatives they consider novel.
The initiative comes six months after the RWA token regulatory sandbox proposal. The two organizations behind such projects, Fintech and the Argentine Chamber of Growth, said they had been having high-level conversations with regulators such as CNV for development, as reported by Cryptonoths.