Following Javier Milei’s inauguration as president on December 10th in Argentina, debates continue in the country. Milei’s election promises and statements, which have garnered attention, are raising hopes among local crypto communities. There is an expectation that the new president will bring the country to the same level of cryptocurrency usage as Nayib Bukele did in El Salvador.
Camilo Jorajuría, Vice President of the Bitcoin Argentina non-profit organization, is calling on Milei to respect the privacy of the citizens and to take steps against the strict measures of the Financial Action Task Force (FATF). He opposes the FATF’s Travel Rule, which mandates crypto asset service providers to share sender and recipient information.
Argentine crypto advocate and author Adam Dubove says that the newly inaugurated president must fulfill his promise of radical monetary reform and that a significant change in the legal regulatory framework of the country’s central bank, Banco Central de la República Argentina (BCRA), is necessary.
Mónica Taher points out that if the Argentine government strengthens the crypto ecosystem, due to the size of the economy, it could draw investors away from El Salvador. Milei emerged victorious from the presidential elections on November 19th by promising radical reforms such as the dissolution of the BCRA and the complete dollarization of the national economy.
Argentine Bitcoin advocate Fernando Nikolić notes that despite the excitement in the crypto community towards Milei, any Bitcoin-friendly legislation should not be overlooked even though it was not part of Milei’s official program after the elections.