- The Argentinian crypto bill is under review by the government.
- The Argentinian crypto bill will legalize crypto use in the country.
- Moreover, the Argentinian crypto bill provides more ways for Argentinian people to use their funds.
The local government of Argentina now reviews the Argentinian crypto bill. It aims to legalize the use of crypto assets in the country. The man behind the bill is the MP of the Coalition party Juntos por el Cambio, Ignacio Torres.
Torres further explains:
Our objective is to recognize cryptocurrencies as a financial asset. Obviously, the total regulation is not contemplated because they are powers of the AFIP. But we want to obtain the greatest consensus in the room to have legislation similar to that of other countries.
If the bill pushes through, Argentina will have its first legalized cryptocurrency policy. As a result, the Argentinian crypto bill can create a comprehensive regulatory framework. This framework is applicable to civil and commercial transactions and operations of crypto assets.
Furthermore, the Argentinian crypto bill also establishes virtual currencies as a means of payment, savings, or investment. Hence, more people in Argentina can choose their way of using their funds in and out of the country.
However, if the parliament denies the Argentinian crypto bill, the country will remain to have no proper crypto regulation. Private financial institutions like banks might have a hard time integrating crypto assets into their operations.
Moreover, cryptocurrency is now widely accepted by many countries around the world. In particular, Russia’s Gazprombank has received regulatory approval to offer BTC custody and trading services to its clients in Switzerland.