Industry News: Volume 1, Issue 19

Cryptocurrency Regulation in the Americas…it’s time to let banks make stable e-currency work for everyone

Authored by:

Eric Maloney, PhD
VP Operations, Vesto LLC

Roger Taylor, MD, MPA
SVP Healthcare Sector, Vesto LLC


Countries around the world are grappling with the challenge of how to regulate cryptocurrency, with widely varying approaches. To better understand these variations, we reviewed the regulatory policies of 20 Latin American countries. We found them surprisingly inconsistent. One has declared Bitcoins to be valid currency, seven are developing mature cryptocurrency policy, seven remain generally neutral, three are trending towards more restrictive regulation, and two ban cryptocurrencies outright. We found a general trend since the 2018 LLOC (Law Library of Congress) report “Regulation of Cryptocurrency Around the World” for these countries to move their positions from negative to neutral, and neutral to positive, as their policymakers better understood the potential for cryptocurrency and blockchain technology to improve international commerce, promote growth, and provide fast and affordable banking services to their constituents, many of whom are underserved by traditional banking systems.

However, even policymakers favorably disposed to the cryptocurrency marketplace can be confused as to how to regulate the wide variety of cryptocurrencies trading on the Internet today. The US, which has traditionally provided regional leadership in financial regulation, has been slow to develop a consistent position on cryptocurrency regulation. The current US Administration has begun a process to develop a unified approach, making this an opportune time to propose positive changes in the US, and for the US to collaborate with the countries in the Americas that are already developing mature cryptocurrency policies to develop a supportive and sustainable regional approach.

There is a clear need for a Pan-American regulatory framework to support the continuing development of a secure and responsible cryptocurrency commerce infrastructure in the Americas. With the total market cap of the more popular cryptocurrencies exceeding the market cap of each individual Latin American country, it’s clear that cryptocurrencies are here to stay. Failed national attempts to suppress cryptocurrency trading, or replace it with CBDCs (Central Bank Digital Currencies) tend to force it underground, giving the dark web, unregulated traders and bad actors more power. The solution is to adopt a balanced approach, building on the regulatory framework for banks and financial institutions, and expanding it to support the positive benefits cryptocurrencies and the exchange of stable e-currencies and e-securities can deliver. In doing so, commerce throughout the Americas would be made more efficient and regional ties strengthened. Millions of unbanked and underserved citizens could more easily and safely access banking and DeFi (Decentralized Financial) services. This would reduce the drivers for dark money transactions, as well as the economic drivers for illegal immigration to more wealthy countries. The benefits could run wide and deep.

Fortunately, today’s broad availability of Stablecoins, whose value is tied to the value of an international fiat currency such as the US dollar, or a fixed asset such as gold, offers regulators the opportunity to view this newer stable e-currency differently than they have viewed more volatile and speculative cryptocurrencies. New cryptocurrency banking systems such as Vesto’s banking platform, which is designed to work within existing regulated banks and financial institutions and comply with all standard international banking regulations, offer regulators the opportunity to extend their traditional banking regulations to include cryptocurrency commerce. With such banking platforms, regulators can be confident that banks will know who the customers exchanging cryptocurrency are, track the value of assets and where they go, and assure accountability and regulatory compliance and reporting in a way that meets or exceeds what is now possible with cash, checks, and legacy banking systems. Deposits can be insured, and security and confidentiality controls are as strong or stronger than in traditional banking, and there is significantly less opportunity for fraud, theft, counterfeiting or money laundering than with checks or cash. Promoting the use of internationally accepted Stablecoins as legal stable e-currency will also have significant environmental benefits, since creating and verifying transactions in Stablecoins does not involve the huge electrical energy consumption of Bitcoin mining and Bitcoin transaction verification.

We recommend the development of model regulatory policies authorizing banks to let stable e- currencies, such as internationally accepted Stablecoins, work for everyone as legal currency when operating on a compliant cryptocurrency banking platform. We also recommend the development of model regulatory policies that authorize and regulate a wide range of other cryptocurrency transactions, including those involving Bitcoins, Altcoins and tokenized assets, when traded through a compliant cryptocurrency exchange platform. The time to act is now.

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For more information visit: and/or email to

For regulatory research enquiries contact:

Eric Maloney, PhD
VP, Operations, Vesto LLC

For sales enquiries contact:

Travis McGregor CBO, Vesto LLC
+1 (415) 988-5420

U.S ranks last among 10 other countries in new study on healthcare systems

By Anastassia Gliadkovskaya—The U.S. health system ranks last in a new study on quality and accessible care among 11 high-income countries surveyed.

The study, conducted by the Commonwealth Fund, used data from international surveys, including the public and physicians, and the guidance of an independent advisory panel, choosing 71 measures relevant to healthcare system performance.

To view the article in its entirety, click here.

US plans to require COVID-19 shots for foreign travelers

By Zeke Miller—The Biden administration is taking the first steps toward requiring nearly all foreign visitors to the U.S. to be vaccinated for the coronavirus, a White House official said.

The requirement would come as part of the administration’s phased approach to easing travel restrictions for foreign citizens to the country. No timeline has yet been determined, as interagency working groups study how and when to safely move toward resuming normal travel. Eventually all foreign citizens entering the country, with some limited exceptions, are expected to need to be vaccinated against COVID-19 to enter the U.S.

To view the original article in its entirety, click here.

Sanofi, Regeneron stop Libtayo-chemo lung cancer trial early on strong survival data

By Fraiser Kansteiner—It’s often a bad sign when a clinical trial stops early. Not so for Sanofi and Regeneron Pharmaceuticals. On Thursday, the partners said they were pumping the brakes on a pivotal study of a Libtayo-chemotherapy combo in lung cancer because the initial results were just that good.

To view the original article in its entirety, click here.

Flu shot linked to less severe COVID-19: Study

By Erin Schumaker—People who got a flu shot earlier this year may be less likely to suffer a severe COVID-19 infection down the road, according to new research.

The study, published in the journal Plos One on Wednesday, analyzed the electronic medical records of more than 74,700 people from the United States, the United Kingdom, Italy, Germany, Israel and Singapore, who tested positive for COVID-19. Researchers found that those who had gotten the flu vaccine during the previous six months were less likely to have had health complications related to their COVID-19 infection.

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Moderna, citing variants and waning immunity, expects COVID-19 boosters to become a fact of life

By Eric Sagonowsky—For anyone thinking aggressive COVID-19 vaccine rollouts would bring a quick end to the pandemic, Moderna has a word of caution. While U.S. authorities aren’t yet ready to recommend vaccine boosters, the company believes that add-on shots will become a fact of life for some as the virus sticks around and continues to put up a fight.

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Verily launches AI research center in Israel, picks up Google Health projects

By Conor Hale—To further explore artificial intelligence’s reach in healthcare, Verily is opening a new R&D center in Israel. It plans to partner with the country’s hospitals, medtech startups and researchers.

As Google’s life-science-focused sister company, Verily also hopes to pick up the torch from the tech giant’s previous work in digital health, such as the use of AI to help detect suspicious polyps in real time during screenings for colorectal cancer.

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Why Precision Medicine is a Game-Changer in the Healthcare Industry—Precision medicine is one of the current healthcare technologies that is dominating the healthcare industry. There have always been some major questions as to whether personalized medicine will emerge in the country for very many years.

However, just like companies have been able to provide customized products, the healthcare industry has been able to come up with precision medicine through gene analysis. Here are some of the major reasons why the precision medicine sector will continue to be one of the most important industries in the healthcare industry.

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