No Picture

Pablo Soria de Lachica – on the Potential of Ethereum to Become Top Cryptocurrency

As the first cryptocurrency, Bitcoin heralded the most exciting period for technology since the creation of the internet. However, in the nine years since it exploded onto the global financial scene, the original crypto coin has, in a way, become a victim of its own success. Its meteoric rise sparked the emergence of over a thousand cryptocurrencies, triggered an investor frenzy, and raised a red flag for regulators. Among the multitude of digital coins vying for attention, only a handful stand out and appear destined for longevity. While none of them is currently close to Bitcoin in terms of market capitalization, industry participants and investors have already spotted gaps in the cryptocurrency’s armor. At the same time, another digital coin has kept gaining prominence, consistently proving its worth beyond purely monetary value. Ethereum (ETH), which arrived almost five years after Bitcoin, has become far more than the second-largest cryptocurrency by market capitalization. It is also…

No Picture

Pablo Soria de Lachica Comments on Recent Moves to Regulate Mexico’s FinTech Sector

On Dec. 5, 2017 Mexico’s Senate approved a bill that would regulate its rapidly expanding financial technology (fintech) sector, including crowdfunding and cryptocurrency firms. “The new laws, which seek to promote stability and defend against money laundering, are also expected to pass through a final lower house vote,” explains financial analyst Pablo Soria de Lachica. If approved, Mexico will join a small, but growing, list of countries, including the United States and Britain, that have sought to regulate fintech businesses. The goal of the change, said Pablo Soria de Lachica, is to provide legal clarity for companies, including those working with bitcoin, that are creating new variations of traditional products and services. As currently written, the measure would specify that cryptocurrencies are not legal tender in Mexico, and all firms that deal with them would be officially regulated by the country’s central bank. If passed, the bill has the potential to reduce operational risk, enhance transparency and improve…