Fun

President of Argentina Open to Adopting Cryptocurrencies as Legal Tender

News Feed - 2021-08-16 02:08:19

President of Argentina Open to Adopting Cryptocurrencies as Legal Tender


Alberto Fernandez, the president of Argentina, stated he is open to the adoption of cryptocurrencies as legal tender in an interview this week. Fernandez said there is a big discussion around the value and use of cryptocurrencies not only in Argentina but also all over the world. However, he recognized this issue should be treated carefully, and acknowledged he had limited knowledge in the subject of cryptocurrencies. President of Argentina Open to Allow Crypto to Become Legal Tender


Alberto Fernandez, the current president of Argentina, expressed his opinion of cryptocurrencies in the Black Box, an interview program hosted by Julio Leiva, an Argentinian journalist. When asked about the subject of cryptocurrencies, and if his government was looking into it, Fernandez stated that there was a big debate over the function of cryptocurrencies not only in Argentina but in the whole world. He stated: This is a subject that must be treated carefully. In my case, because it is still unknown to me. Some still don’t understand how this money is materialized. These doubts I have are shared by many, that’s why the project has not expanded further.


Leiva pushes the issue even further on Fernandez and asked if they would be open to adopting a cryptocurrency as legal tender, as it happened in El Salvador, or to issue a central bank digital currency. Fernandez stressed: Everything is possible. Some say that the advantage of this is that the inflationary effect is nullified in a big way. It is also true that it will bring insecurity because some big scams have been verified to be done using cryptocurrencies. It’ is a difficult subject to touch.


To conclude, Fernandez reiterated that the country should not say no to the use of cryptocurrencies because it could bring important advances to the inflation problem, being a somewhat “hard” currency compared to its fiat counterparts. The Central Bank States Otherwise


While the president of Argentina is open to the use of cryptocurrency, representatives from the country’s central bank have stated otherwise. This is the case of Miguel Pesce, president of the Central Bank of Argentina, who stated the institution was interested in regulating the intersection of bitcoin and the traditional payment system on August 11.


Pesce detailed that it would be prejudicial to the system if the money coming from cryptocurrencies mixed with the funds coming from the traditional exchange market.


What do you think about the opinion of the president of Argentina About cryptocurrencies? Tell us in the comments section below. Global Charity Organization Launches Crypto-Based Vouchers for Vulnerable Groups in Kenya, Ecuador EMERGING MARKETS | 2 days ago Kidnappers Kill Venezuelan Citizen for Not Paying Ransom Requested in Bitcoin EMERGING MARKETS | 2 days ago Tags in this story alberto fernandez, Argentina, Cryptocurrency, El Salvador, legal tender, President


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Bitcoin Cash Node Reveals Upgrade Plans for May and Difficulty Algorithm Research
Bitcoin Cash Node Reveals Upgrade Plans for May and Difficulty Algorithm Research On March 2, the developers behind the Bitcoin Cash Node project announced the team’s plans
Jesse Coghlan5 hours agoAustralia’s financial regulator cancels license for FTX’s local entityASIC had previously suspended FTX’s license to operate in Australia; now the securities regulator has canceled it entire
Bitcoin Stock To Flow Model Reveals $500,000 Price Target
Este artículo también está disponible en español. According to data from CoinMarketCap, Bitcoin (BTC) has gained by 0.66% in the past 24 hours with its market price now h
The Number of SHIB Holders Shudders in 3 Days, Shiba Inu Slid 17% in Value Last Month
The Number of SHIB Holders Shudders in 3 Days, Shiba Inu Slid 17% in Value Last Month While most digital currencies have seen gains during the last month, the meme token called shi
Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors
Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passe
Google to Require Government Authorization to Provide Advertising Services for Financial Products in Spain
Google to Require Government Authorization to Provide Advertising Services for Financial Products in Spain Google, the web search and software monolith, has announced that it will
Price analysis 3/11: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB
Rakesh Upadhyay6 hours agoPrice analysis 3/11: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIBBitcoin is showing no signs of slowing down as demand for the spot Bitcoin ETFs remains robust. Can altcoins keep pace?4619
Brayden Lindrea7 hours agoWeb3 is about solving business problems, not token prices: Google Cloud execWhile TradFi is the main source of demand for blockchain tech, digital identity and supply chain are exciting areas to
Price analysis 7/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay6 hours agoPrice analysis 7/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBBitcoin’s recovery faces selling near $60,000, indicating that bears remain active at higher price levels.2594 Total vie
Where will Bitcoin's price be at the next halving in 2028?
Tom Mitchelhill2 hours agoWhere will Bitcoin"s price be at the next halving in 2028?Experts say the price of Bitcoin could top $200,000 by 2028 but concerns around network security and miner profitability still loom.5335
Prashant Jha3 hours agoCRV exposure risk throws a curveball at the DeFi ecosystem: Finance RedefinedMost DeFi tokens traded in the red on weekly charts due to the chaos caused by the Curve Finance exploit.1221 Total view
Bitcoin Price Fall Increases Buying Momentum, Pushes Exchange BTC Balances To 6-Year Lows
Este artículo también está disponible en español. Following a major price decline in Bitcoin (BTC), market sentiment droppedback to strong levels of fear, indicating that