[ad_1]
Luis Gabriel Morcillo Tuesday, July 17, 2018
Technological innovations in financial services (included as fintech) have transformed the global economy, creating new financing alternatives and more business opportunities that transcend the current state of financial regulation in the world: the case of public cryptocurrency offers
What is an ICO?
Cryptocurrency (ICO) public offerings are an alternative virtual financing mechanism, in which in exchange for investing in crypto-currencies (usually bitcoin) or ether), investors receive digital badets that represent rights of different categories in the proposed project. There are digital means of payment, which allow to receive a new cryptocurrency; utility badets, that is, those providing digital access to an application or service; similar badets, such as equities, bonds and derivatives, that can provide returns and even voting rights to the investor in the proposed project; or, finally, hybrid digital badets, that is, they combine a combination of several of the aforementioned rights. These digital badets are called tokens, which are subject to the regulatory uncertainty surrounding this alternative funding channel.
What is the impact that they have had around the world?
Only in the first quarter of 2018, however, more than 80% of funded projects are or could become unsustainable (and considered a scam).
Faced with such a source of resources, the reaction of the regulators at the world level, it was of different types. While countries like China and South Korea have opted for an outright ban, the US, Switzerland and Singapore have adapted their regulations to allow ICOs that deliver to the investor a certain clbad of chips considered as titles in the current regulation. ] Advances in Colombia Country Office Regulation
In Colombia, country offices are an alternative to attract unprotected or regulatory resources that still pose high risks to investors. However, in a remarkable way, the Financial Superintendency created last year the Task Force on Financial and Technological Innovation (https://www.superfinanciera.gov.co/innovasfc), of which the Financial Superintendence goal is to act as a facilitator for innovation in the financial sector, and already in the Congress debate of the Republic on cryptocurrencies and the use of blockchain technology, initiatives seeking to take advantage of these mechanisms to modernize the country's digital economy.
The main challenge for the entities The country's regulators are setting up a mechanism to differentiate the different digital badets issued in the ICOs, to frame them and to adapt them to the value concept of Law 964 of 2005 and the financial and stock market regulations of the Bank. of the Republic, or if, on the contrary, the discussion is open to issue a new regulation that adapts to these new technologies, and those still in development, to adequately protect the investor's public savings.
Source link
