Politics in Argentina are tense towards the choice of the next president, a debate that directly concerns the choice of Bitcoin or a CBDC as the country’s official currency for the next four years.
This is because, while Javier Milei wants to pave the way for Bitcoin and the Dollar, suggesting that the Argentine Peso is already dead, government candidate Sergio Massa wants to maintain state control over the money.
In a presidential debate last Sunday (1), Massa stated that Argentina’s plans, if elected, would include the creation of a CBDC, that is, a central bank digital currency.
Sergio Massa, member of Cristina Kirchner’s government in recent years, is a candidate who currently holds the position of Minister of Economy in Alberto Fernándes’ government.
However, the government failed to control inflation and improve the quality of life of Argentinians, resulting in Fernándes not running for re-election.
Endless crisis? Argentina’s government candidate believes CBDC can save the country’s economy, unlike Javier Milei’s Bitcoin plans
It is unclear whether a central bank digital currency can save Argentina’s economy, as CBDC is just a digital representation of physical money. Therefore, creating a digital version of fiat money, with inflation exceeding 100% in the last twelve months, is an alternative that needs to be evaluated to solve the problems.
However, Sergio Massa believes that this is the most suitable solution if he is elected in the Argentine presidential elections that will take place on October 22, 2023.
His views were shared during the first presidential election debate, held at the Forum Provincial Convention Center in the city of Santiago del Estero.
Sergio Massa criticized Javier Milei, claiming that Argentina’s currency and the work of the central bank should be valued. He also defended a series of measures that could put an end to Argentina’s inflation.
“First, we will create an Argentine digital currency to promote mobile phone commerce. We will also establish a new money laundering law and impose new penalties on those who do not pay taxes in the country.”
After presenting the initial concept, Massa stated that anyone using the new digital currency he wants to create will receive tax credits on transactions. He stated that he plans to talk to the IMF to “stop being a country of beggars, to become a sovereign country“.
Javier Milei’s plans put the Argentine central bank on alert
With Javier Milei winning the primaries and promising deep reforms in the country’s economy, Sergio Massa is the second candidate with the most votes in the primaries. The debate on the economy was the first topic of the presidential debate, and the most important in the eyes of voters, who are concerned about the deteriorating economy in recent years.
But Javier Milei’s plans to dollarize Argentina’s economy have already reached Brazil. Economy Minister Fernando Haddad said that if he wins, it will mean the end of Mercosur.
In any case, Milei has already made it clear that the Argentine central bank is a coup against the people, which he will have to deal with when he takes on the role of president of Argentina.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.