New research on the regulatory framework for e-payments in the Americas 20 September 18

Electronic payment methods become increasingly popular, offering convenience or improved security to consumer transactions. Credit and debit cards, payment using mobile devices and electronic wallets (such as PayPal and Alipay) are commonly accepted by merchants worldwide. Cryptocurrency assets based on blockchain technology promise innovation and independence from central banks, leading to a significant investment by enthusiasts while governments assess whether to regulate them or not.

In the Americas, regulation of e-payment systems are common but only a few countries have specific regulation on cryptocurrency assets, including bitcoin. In Mexico, financial institutions are explicitly allowed to use ‘virtual currencies’ under certain conditions since March 2018. In Argentina, the government introduced taxes on cryptocurrency earnings in 2017, while in Canada tax rules apply to cryptocurrency assets since 2013.

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