Argentinian citizens that are active in cryptocurrency industries have been critical of a new anti-crypto requirement. It restructures the country and provides more opportunities for the payment of the $45billion owed to it. However, the deal also suggests a range of measures that are intended to stop the cryptocurrency industry from growing.
IMF Slips Controversial Crypto Clause Into Argentinian Debt Restructuring Deal
Argentinians have been discussing potential consequences of an IMF deal that Argentina recently approved. It appears to contain anti-crypto requirements. This agreement will allow Argentina to pay off its $45 million debt to the IMF.
This debated statement was included in the law project which approves the refinancing debt declarations.
To ensure financial stability and prevent money laundering, the National Government will disallow the use cryptocurrency. Official incentives will also be provided for the digitization payment. Financial consumers will receive additional protection.
This could indicate that regulations will be put in place to slow down the adoption of cryptocurrencies in the country.
Argentinians speak out
The Argentine crypto community is currently trying to figure out the potential repercussions and the implications of this agreement for all actors in the sector. The majority of those in the crypto community agree that not enough information is available to evaluate its impact on actual cryptocurrency usage. This has been at record highs recently.
Bitcoin Argentina, an organization for the promotion of the knowledge and use of bitcoin sent a request to the government to obtain all data related to these measures.
Some have indirectly criticized the part of this agreement, while others support crypto adoption. Franco Bianchi (CMO) of Lemon is an Argentinian startup providing cryptocurrency payment solutions. Bianchi told Criptonoticias that the best focus would be to “work in a context of clear rules that encourage the adoption of crypto assets as some countries are doing, which promoted positive laws on the use of cryptocurrencies.”
Franco Amati is another popular bitcoiner who stated that he suspects it could have been an attempt to stop a potential attempt at Bitcoin financing such as El Salvador’s.
What do you think about the IMF’s anti-crypto requirement and the opinions of the Argentinian crypto community? Leave a comment below.
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