“Latin America serves as the leader of the global discussion about cryptocurrencies,” says Lonchi.
The development of CBDC in places like Brazil and Colombia is not evolving as in the past.
In an interview hand in hand with cryptootics in Brazil, Isabel Lonchi, director of public and regulatory policies for Latin America of Ripple, declared that they are focusing their efforts to contribute to the assembly of the regulation of the cryptocurrency sector in the region.
“We want to make the regulation part of Stablecoins, tokenization and also of suppliers of virtual asset services (PSAV or, for its acronym in English, Vasp),” specified the Ripple Directive, the company famous for issuing the XRP cryptocurrency.
He added that For Ripple, the product of payments with cryptocurrencies is an important areaso regulatory clarity in the industry is essential to develop without obstacles.
As for the digital currencies of Central Banks (CBDC), he indicated that Ripple has worked in the past to offer infrastructure for projects of this type in Colombia and Brazil. However, he acknowledged that the development “stopped a bit” both in Latin America and globally, so the company is not so involved in it.
He also contrasted that CBDC are Central Bank projects, not Ripple. «But, for us the more it makes a development of the ecosystem, the better. If we have the opportunity to help, it is something that Ripple will do, ”he said.
«Now the topic of CBDC is not evolving as it was in the past. Not only in Brazil, but throughout Latin America or perhaps globally. The development of these projects was stopped a bit. That is why we are not so hooked with this. But it is a thing that Ripple, if you can, will endure.
Isabel Larchi, Director of Public and Regulatory Policies for Latin America of Ripple.
The interview took place in Blockchain Rio, an event that Longhi cataloged as “an event”, since it was “a key space to dialogue with authorities and companies in the sector.” The expectation of assistance was 20,000 people, a figure that, he said, is relevant “for an event outside Sao Paulo.”
Lonchi pointed out that the meeting He congregated representatives of all kinds of industry companies and LATAM regulatorswhich allowed to “speak and understand a bit which direction is taking regulation.” He also stressed that these instances serve for the authorities to “listen to a little what companies do” and for the ecosystem to be strengthened as a community, even at the business level.
He explained that from Ripple they always maintain a dialogue to help in the direction of regulation in different countries. “For example, we contribute to the consultation in Argentina on Tokenization. In all the consultations we had here in Brazil too. We found regulators to show our business model,” he said.
Brazil will have a regulation of stablcoins after PSAV, advances long
As for the aspects he considers pending, Larchi stressed that in Latin America, as well as in the United States, there is still no permission to issue native tokens directly. “Today, regulations often demand that the broadcast be carried out first offline and then online, which doubles work instead of obtaining the advantages of tokenization,” in their opinion.
Another point that he mentioned was the absence of a specific regulation on Stablcoins in Brazil, which anticipated that It will arrive after the regulations for virtual asset services suppliers. Meanwhile, the latter already exists in Latin countries such as El Salvador and Argentina, which also has a tokenization regulation.
Regarding legislative initiatives in other markets, such as the Clarity bill in the United States, which seeks to classify digital assets between Securities and Commoditieshe said: “It is a project that we support a lot … the more regulatory clarity is always better.” He added that Ripple also supports the Genius law approved a month ago in the country to regulate Stablcoins.
In relation to its long judicial battle for issuing XRP that the company faced against the SEC, which has retired it with the administration of President Donald Trump, said that what they always searched was precisely “clarity” about what they could do and what did not.
For the Ripple Directive, Latin America leads the global cryptocurrency discussion
On the adoption promoted by regulatory clarity, Larchi stressed that “the regulation in Argentina was very important” due to the multiple cases of use in the country, and considered that The Argentine frame for tokenization is marking the course in the region.
In Brazil, he said, the authority “is listening a lot to the market to better understand before making a regulation that has no efficiency for the market”, something that described as positive. He also mentioned that Colombia advances in its own frame and uses the tool of Sandbox regulatory, what in his opinion is “a very good idea before making any regulation.”
On the other hand, according to his opinion, in countries such as Mexico and Chile “it is necessary that the regulation be a little more specific” for the cryptocurrency sector, since it is currently limited to the Fintech in general.
Even so, he concluded forcefully that “Latin America is serving as a leader in the discussion of cryptocurrencies for everyone.”
