Uruguay can be an example in crypto legislation

US investor states: “Governments should allow banks to offer digital currencies” Tim Draper This Friday in Uruguay.

The well-known promoter of cryptocurrency and financial decentralization said that if Uruguay passes a law to regulate cryptocurrencies — half of which has been approved by Parliament — the country will attract the attention of the entire world.

“It will be a huge difference and a great opportunity, the whole world will be talking about it,” said the founder of Draper Associates, DFJ and Draper Venture Network after a conference in Sinergia Faro de Montevideo organized by Ripio, Bitcoin Iberoamerica and LaBitConf. Draper Cygnus and AWS.

Interview by Martin Alcala RubyDraper, Co-Founder and CEO of BrainLogic AI, and Co-Founder of Tryolabs and UltraDrop, states that “Latin America has a great opportunity to be the world’s leading cryptocurrency,” because “in highly dependent countries like Argentina, consumption and the crypto economy allow For the ecosystem to evolve, not like in the US where people trust banks and government and don’t benefit from using Bitcoin” Draper, who recently reiterated his prediction that the Bitcoin price will reach $250,000, said cryptocurrencies in Latin America “are an alternative for millions of excluded people than traditional banking services.

He was also part of a panel with leaders from fintech, startups, and the cryptocurrency industry: Martín Benitez, Country Director of Rippio in Uruguay, Rodrigo Tomian, President of the Uruguayan Chamber of FinTech (CUF), and Ignacio Plaza, President of the Argentine Chamber. Fintech (CAF) and Agustín Gallo, Chief Growth Officer, Prex. The moderator was Diego Gutierrez Zaldivar, a well-known promoter of Bitcoin in Latin America.

Benitez highlighted that Ripio was actively involved in drafting the bill that “could help the entire industry and achieve very good results for the public to start participating in cryptocurrencies.”

For their part, Tamian and Plaza highlighted the growth of the sector and the increasing adoption of digital finance tools in the region.

In addition, five homegrown startups — MetaMind, DaMap, Suku, Presente, Ephere Football, and CryptoVerse — that were shortlisted after open registration, had the opportunity to present for three minutes before a jury chaired by the visionary American investor, recognized for his betting. Early on from companies like SpaceX, Twitch, Skype, Coinbase, Robinhood, Docusign, and Tesla. The winner was Suku, a Web3 social networking portfolio.

Previously, at the Ripio offices in Montevideo, Draper met with key leaders of the fintech and crypto ecosystem in Uruguay. There he participated in the first round of presentations by five startups with projects in digital finance and cryptocurrency.