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Debates continue in Argentina following the inauguration of Javier Milei as President on December 10th, who has drawn attention with his election promises and statements. Local crypto communities are hopeful that the new president will keep some of his most radical promises and bring the country up to the same level of crypto usage as his counterpart Nayib Bukele has done in El Salvador.
Three Requests for Milei
On the day Argentinian President Javier Milei took office, Latin American publication Cryptonoticias published “Three Requests from the Bitcoin Community to Milei”. Vice President of civil society organization Bitcoin Argentina, Camilo Jorajuría, urged Milei to respect the privacy of his people and take steps against the strict measures of the Financial Action Task Force (FATF).
The measure Jorajuría referred to was the Travel Rule of the FATF, which forces crypto asset service providers to share information about the senders and recipients of crypto assets. The crypto lobbyist also pointed to El Salvador as a model for adopting and legally regulating Bitcoin.
Argentine crypto advocate and columnist Adam Dubove believes that the newly inaugurated president needs to keep his promise of radical monetary reform and that a major change in the legal regulatory structure of the country’s central bank, Banco Central de la República Argentina (BCRA), is necessary.
Argentina Could Become a Crypto Hub
The most moderate comment on the subject came from Mónica Taher, a former employee of the El Salvador government. She welcomed Milei’s stance on crypto assets and claimed that the Argentine government, due to the size of its economy, could divert investors away from El Salvador if it helps strengthen the crypto ecosystem.
Javier Milei, with promises of radical reforms such as the abolition of BCRA and the complete dollarization of the national economy, emerged victorious from the presidential elections held in Argentina on November 19th. However, Fernando Nikolić, an Argentine Bitcoin advocate and founder of media analysis firm Bitcoin Perception, pointed out after the election that any law considered Bitcoin-friendly would not be part of the official program, despite the enthusiasm from the crypto community towards Milei.
