Montserrat Martínez Parera, Vice President of the National Securities Market Commission (CNMV)expressed during the opening of the IX Securities Services Conference organized by Cecabank Expansión and FundsPeople, that beyond crypto assets, what really seemed attractive to the regulator were DLT and blockchain technologies.
“What can be truly disruptive is going from applying this technology in the crypto world to the real financial instruments that we currently have included in the regulatory framework”he mentioned.
In addition, explained that thanks to it (blockchain) it was possible to turn financial instruments into digital assets, and stressed that if the sale were to be made simultaneously, without the need for counterparty, it would be a “major change”.
In this sense, and in relation to regulation, he revealed that the CNMV trusts that when the Securities Market and Investment Services Law is approved, DLT technology can be considered as a possibility with current financial instruments, since the supervisors are preparing to push these projects from the sandbox, space from which he revealed that they have four projects linked to the DLT that propose to operate market infrastructures under this test regime.
That being said, it should be remembered that Rodrigo Buenaventura, president of the National Securities Market Commission (CNMV), earlier this month and during the presentation of the IV Observatory of Savings and Investment in Spain, stated that he sees no value in ‘utility tokens’, ‘stablecoins’ and NFTs and made a call not to generalize with respect to crypto assets, since there are several types and only some of them, in his opinion, do represent progress in the digitalization of the markets.
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