Argentina Follows El Salvador’s Bitcoin Policy

In a bold move to reshape Argentina’s financial landscape, President Javier Milei has unveiled plans for comprehensive pro-crypto policies

Argentine President Javier Milei has announced plans to introduce comprehensive pro-crypto policies in 2025, including the introduction of free currency circulation.

This move will allow Argentines to conduct transactions in their currency of choice, including Bitcoin. The approach mirrors El Salvador's decision to make Bitcoin legal tender in 2021.

The initiative aims to boost financial freedom and flexibility in the country.

Argentina has already begun exploring cryptocurrency, with the government legalizing contracts denominated in Bitcoin in 2023.

As the country experiences inflation, currency devaluation, and economic instability, Milei's policies will leverage blockchain technology to address these challenges.

Despite criticism from traditional economic circles, Milei is committed to 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,” said Ricardo Mihura, President of the ONG Bitcoin Argentina in an interview.

After former U.S. President Donald Trump expressed support for Bitcoin in 2023, many countries are considering integrating Bitcoin and cryptocurrencies into their existing financial infrastructure.