Bitcoin News and Finance
Argentine Economy Minister Sergio Massa Proposes National Digital Currency Skip to main content

Argentine Economy Minister Sergio Massa Proposes National Digital Currency

Argentine Economy Minister Sergio Massa Proposes National Digital Currency

Sergio Massa, Argentine economy minister and presidential candidate, has announced that, if elected, his new government plan would include launching a national digital currency that local media has called the “crypto peso.” Massa also stated that this plan would involve a tax reduction for transactions that use this new currency.

Argentine Presidential Candidate Sergio Massa Announces National Digital Currency

Sergio Massa, the current Argentine economy minister and a presidential candidate, has declared that his government plan would include the creation of an Argentine digital currency. During the first presidential debate, Massa stated that this proposal would be linked to a tax reduction for transactions that leverage this new currency.

Detailing his digital currency proposal, he stated:

We are going to launch the Argentine digital currency. Just as your children propose in their platform economy the possibility of trading with their cell phone or card, we are going to do it globally for all of Argentina.

Massa, however, was scant on details and did not specify if the proposal referred to a digitization of the peso or the launch of a central bank digital currency (CBDC).

In addition, Massa announced that he would introduce a new money laundering law to allow Argentines who have funds outside the country to leverage them without having to pay new taxes.

Digitization vs. Dollarization

The digitization of the Argentine currency has already been addressed by some analysts, who have stated that the proposal’s objective was to bring transactions to the formal market, curbing rampant tax evasion.

A similar proposal was presented last year by Carlos Maria De Los Santos, a banker who argues that tax evasion rates reach around 50% today, and the implementation of the total digitization of the Argentine currency would result in a yearly surplus of up to 20% for the country’s economy.

Massa’s proposal is an alternative to the dollarization plan that libertarian candidate Javier Milei, who won the preliminary elections in August, has presented as a way of stabilizing Argentina’s inflation, which reached 124% yearly that same month.

While experts have bashed Milei’s dollarization plan, this and the ideas of reducing the size of the state have put it at the top of the polls, which gives him an advantage of up to 11% just four weeks before the first round of the elections.

What do you think about Massa’s proposal of launching an Argentine digital currency? Tell us in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory