Description: The development of the regulatory framework refers to the process of creating a set of regulations and guidelines that govern a specific area, with the aim of establishing order and ensuring compliance with norms that protect both consumers and businesses. This process involves identifying needs, consulting with stakeholders, drafting regulations, and implementing oversight and control mechanisms. A well-designed regulatory framework is essential for promoting transparency, fair competition, and innovation in the market while protecting the public interest. Furthermore, this development must be dynamic, adapting to technological and social changes, as well as to new market realities. The participation of various actors, including governments, businesses, and non-governmental organizations, is crucial to ensure that regulations are effective and relevant. In an increasingly globalized world, the development of regulatory frameworks must also consider harmonization with international regulations, which can facilitate trade and cooperation between countries. In summary, the development of the regulatory framework is an essential process that seeks to balance consumer protection, competition promotion, and innovation fostering, ensuring a fair and sustainable environment for all involved actors.
