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HomeCryptoCurrencyBanks unfairly criminalize cryptocurrencies: former Chilean senator Felipe Harboe

Banks unfairly criminalize cryptocurrencies: former Chilean senator Felipe Harboe

«Banks have unfairly criminalized the existence of cryptocurrencies. (They) seek to defend their business models, which is to be the only intermediaries between citizens and the possibility of investing. This is how blunt the former Chilean senator and current constituent, Felipe Harboe, was during his speech in the cycle of talks “Connected with Chile 2021”.

During the event, organized by the exchange Buda.com, the politician of the Party for Democracy (PPD), stressed that, if Chile wants to take a leap in its development, it cannot continue to be anchored to business logic as if it were the 90s. For Harboe, the country must become a center of digital instruments in which, as he said, cryptocurrencies such as bitcoin (BTC) play a very important role.

«No me it seems that digitization necessarily happens because of being a bank customer. Why do I have to be a bank customer if I have the possibility to have a digital currency directly, acquire it and trade with it? The costs associated with international transfers are enormous, but it is also what they take. That doesn’t make any sense, “said the former senator before the moderator Jazmín Jorquera, operations manager of Buda.com.

According to Harboe, in a globalized and free world, the massification of cryptocurrencies is feasible . For the lawyer, digitization is not about paying with credit cards or making transfers over the Internet. It is about each person being empowered by their own finances with digital tools and being able to do without intermediaries, he said.

Harboe cited the cases of Mexico with the implementation of the Fintech Law and El Salvador with the adoption of bitcoin as legal tender. Regarding the Central American country and its decision on BTC, the politician indicated that the nation took a very bold step, but that he thinks there are still doubts about the impact it will have on its economic development.

Digital weight in Chile, ¿ how to issue it?

In the middle of the conversation, the constituent revealed that the Central Bank of Chile has debated, indoors, how it could issue a digital peso or another digital national currency. Harboe did not offer more details about the meetings in which he has participated, or what progress has been.

The former senator explained that, like China and its digital yuan, many countries will begin to get involved with this type of currency, among which he mentioned the United States and the advances they have made in the European Union.

For Chile to be able to issue a digital peso, certain conditions would have to be met, according to Harboe. One of them is that the country must have a digital regulatory system that includes data protection , develop a fintech law, diversify digital payment methods and promote platforms for new business models.

«That (digital) currency must have an adequate value to make transactions with other currencies on a global scale. Neutral regulation must be established that allows for national and international transactions. Right now there is very little culture in Chile about this. In addition, there is the terrifying speech of the bank that has been entering, “he added.

The talk with former Senator Felipe Harboe was moderated by Jazmín Jorquera, operations manager of Buda.com. Source: Capture Buda.com / YouTube.

Another condition is that Chile must expand the areas of technological coverage. In other words, the country must have an infrastructure that allows Internet connectivity , not only in metropolitan areas, but also in rural and more remote areas.

The representative’s idea is that all the ministries of his country should be obliged to promote digital development. Each agency must have its own programs to apply new solutions and not create a new “digital ministry” that is regulating the sector.

Regarding a possible regulation of private cryptocurrencies such as Monero or Zcash , the legislator indicated that he has talked with other representatives to the congress on this issue . The debate has served, according to Harboe, to define what would be the path to take to regulate this type of cryptoactive. It must be remembered that the representative is not only a defender of cryptocurrencies, but also of blockchains as a technology.

This Monday was the second meeting of the cycle “Connected with Chile 2021” . In the first talk, the guest was the presidential candidate Ignacio Briones, who showed a more reserved position in relation to bitcoin, as was reviewed by CriptoNoticias.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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