The Argentine government is putting pressure on all local cryptocurrency companies. He wants them to be registered in the register of the new regulatory body dealing with this sector. Otherwise, these entities are to cease their operations.
Argentina is pushing the cryptocurrency market
The Argentine Senate passed a law approving the creation of the Register of Virtual Asset Service Providers. Everything takes place in accordance with the recommendations of the Task Force on Anti-Money Laundering.
The Argentine National Securities Commission announced the creation of the said register at the end of March. The idea is to identify “natural and legal persons who provide cryptocurrency-related services in the country.” In practice, these are exchanges and currency exchange offices where you can buy or sell bitcoins and altcoins.
Unregistered persons will not be able to conduct business in the country
– said Commission President Roberto E. Silva.
Everything resembles regulations that apply in other regions of the world.
Javier Milei betrayed Bitcoin?
Even though the new regulations are not scary or intended to destroy the market, some industry representatives believe that they are a step in the wrong direction. They are even more disappointed because the president of Argentina is Javier Miliei, a libertarian who promised to increase the number of free market elements in the country. He also claimed to be a fan of bitcoin.
Javier Milei is taking exactly the opposite path expected of a “pro-Bitcoin” libertarian.”
– Bull Bitcoin CEO Francis Pouliot wrote on X on Sunday.
Meanwhile, the co-founder of the Money On Chain protocol, Manuel Ferrari, said that creating a register of bitcoin exchange platforms is a “terrible idea.”
Bitcoin is money, not a security
– he said in an interview for Forbes.
This is as bad as if dollar or euro exchange offices or shops where gold is bought and sold had to register. This is complete nonsense
– added.
The cryptocurrency industry quickly recognized Mileia as an ally. It was about what he said during the election campaign. He declared that he would abolish the central bank and replace the peso with the dollar. The first decisions of his administration suggested that he would support the development of digital assets. The idea was, for example, to liberalize payment regulations, which enabled settlements in BTC.
