Economic and legal influence of cryptoassets in the Ecuadorian financial system.

Abstract

The use of cryptocurrencies has generated significant debate in Ecuador, posing both opportunities and challenges for the financial system. In fact, the study analyzed the legal and economic implications of the use of cryptocurrencies in Ecuador, in order to propose a regulatory framework that facilitates integration into the national financial system and guarantees consumer protection. A review of the literature was used, as well as surveys conducted with banking operators and economists. The results indicated a diverse perception on the applicability of cryptocurrencies, along with the need for a regulatory framework. Consequently, the development of clear regulations that promote innovation and financial inclusion in the country was highlighted.