In a bold move to reshape Argentina’s financial landscape, President Javier Milei has unveiled plans for comprehensive pro-crypto policies set to take effect in 2025. Central to these reforms is the introduction of free currency circulation, enabling Argentines to conduct transactions in their currency of choice, including Bitcoin.
This approach mimics the path taken by El Salvador, which made Bitcoin legal tender in 2021 and aims to boost financial freedom and flexibility.
Argentina Follows El Salvador’s Bitcoin Policy
Argentina has already taken steps toward exploring cryptocurrency. In 2023, the government legalized contracts denominated in Bitcoin, signaling its readiness for a digital financial future. Under Milei’s leadership, the nation is poised to deepen its commitment to the crypto economy, leveraging blockchain technology to address inflation, currency devaluation, and economic instability.
Despite criticism from traditional economic circles, Milei remains steadfast in his vision of reducing state intervention in the economy.
“For a year now, there has been talk of free circulation, but it’s not true that there is real free competition between fiat currencies and Bitcoin. When you trade with dollars or euros, exchange rate differences with the peso are not subject to income tax, whereas with Bitcoin, they are. This significantly increases costs, deters and complicates the use of Bitcoin as a currency,” Ricardo Mihura, President of the ONG Bitcoin Argentina stated in an interview.
After Trump’s victory, many countries are now striving to adopt Bitcoin and cryptocurrencies into their existing financial infrastructure.
Also Read: Pro-crypto Congressman French Hill To Lead House Financial Services Committee
