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Argentine government must explain its agreement with the IMF on the use of cryptocurrencies

Argentina, Córdoba, Córdoba
Published 2 years ago
ID #1421
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Argentine government must explain its agreement with the IMF on the use of cryptocurrencies
Argentina, Córdoba, Córdoba,
Published 2 years ago

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The non governmental organization: NGO Bitcoin Argentina requested the government of its country to allow access to public information related to the recent agreement with the International Monetary Fund: IMF. The request was addressed directly to the office of the Minister of Economy, Martín Guzmán, in a letter sent yesterday, March 9, according to the NGO itself.

The non-profit association specifically referred to the implications of one of the sections of Argentina's technical agreement with the IMF, which speaks of the establishment of policies aimed at discouraging the cryptocurrency market. 

The NGO asked Guzmán for explanations about the measures that the government would carry out, within the framework of the new program with the international credit organization, he said in a press release.

The agreement with the IMF was signed at the end of January this year, but it was not until last week, when the technical memorandum was presented to the Argentine Congress, that it became clear that the government was committed to slowing down the activity of the cryptocurrency sector. .

The extensive document contains a section with the policies of Strengthening financial resilience, where the first objective is proposed to discourage the use of cryptocurrencies with a view to preventing money laundering, informality and disintermediation.

The controversial statement has generated a wave of comments on social networks, including a tweet from Santiago Siri, founder of Democracy Earth, who expressed that "the difference in this country is not between left or right. it is between the offline and online generation ».

For his part, Javier Madariaga, director of the NGO Bitcoin Argentina, emphasized that fiat money is much more used for crime. "In 2021, only 0.15 percent of the operations that were carried out with cryptocurrencies were associated with some illicit activity, such as fraud or money laundering," said the executive, who stressed that illegal transactions with fiat far exceed that figure. .

NGO Bitcoin Argentina: the way is not the ban

Madariaga pointed out that the focus should be on coordination between the public and private sectors, and not on prohibition. We are concerned that the authorities are agreeing to discourage a technology that has already been massively adopted by the population itself, he added.

The NGO Bitcoin Argentina asked the Minister of Economy to provide them with all documents, reports, administrative files, emails, and any other documentation related to the policies agreed with the IMF, on the cryptocurrency sector.

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    Argentina, Córdoba, Córdoba
    Cordoba St 3884 Cl