According to Argentine President Alberto Fernandez, cryptocurrencies are the emerging category of digital assets
Argentine President Alberto Fernandez agreed to legalize Bitcoin, while promising to support the creation of a state digital currency.
However, his wish runs counter to the opposition of the country’s central bank.
In particular, according to the President of Argentina, cryptocurrencies are the emerging category of digital assets.
In an interview with local media outlet Caja Negra, Fernandez answered the question of whether he would consider investigating the CBDC or recognizing bitcoin as legal tender, as El Salvador did.
The Argentine president highlighted the growing dynamics of Bitcoin as hedging inflation in the global economy, adding:
“I do not want to go far … but there is no reason to refuse. Τhe advantage of bitcoin is that the inflationary effect is largely offset.”
For its part, the Central Bank of Argentina (BCRA) wants to avoid any connection between bitcoin and the foreign exchange market.
“We will regulate all possible bitcoin exchange rates with the payment system and the foreign exchange market,” said bank president Miguel elngel Pesce.
As he said, bitcoin can not be a financial asset and can not be profitable, so it should be excluded from new solutions and not be considered a means of payment.
So despite the president’s “openness” to exploring digital assets, the governor of Argentina’s central bank appears to be threatening to crack down on the industry.
Pesce rejects the idea of creating a state digital currency.