Argentine Economy Minister Sergio Massa Proposes National Digital Currency

Sergio Massa, Argentine system curate and statesmanlike candidate, has announced that, if elected, his caller authorities program would see launching a nationalist integer currency that section media has called the “crypto peso.” Massa besides stated that this program would impact a taxation simplification for transactions that usage this caller currency.

Argentine Presidential Candidate Sergio Massa Announces National Digital Currency

Sergio Massa, the existent Argentine system curate and a statesmanlike candidate, has declared that his authorities program would see the instauration of an Argentine integer currency. During the archetypal statesmanlike debate, Massa stated that this connection would beryllium linked to a taxation simplification for transactions that leverage this caller currency.

Detailing his integer currency proposal, helium stated:

We are going to motorboat the Argentine integer currency. Just arsenic your children suggest successful their level system the anticipation of trading with their compartment telephone oregon card, we are going to bash it globally for each of Argentina.

Massa, however, was scant connected details and did not specify if the connection referred to a digitization of the peso oregon the motorboat of a cardinal slope integer currency (CBDC).

In addition, Massa announced that helium would present a caller wealth laundering instrumentality to let Argentines who person funds extracurricular the state to leverage them without having to wage caller taxes.

Digitization vs. Dollarization

The digitization of the Argentine currency has already been addressed by immoderate analysts, who person stated that the proposal’s nonsubjective was to bring transactions to the ceremonial market, curbing rampant taxation evasion.

A akin proposal was presented past twelvemonth by Carlos Maria De Los Santos, a banker who argues that taxation evasion rates scope astir 50% today, and the implementation of the full digitization of the Argentine currency would effect successful a yearly surplus of up to 20% for the country’s economy.

Massa’s connection is an alternate to the dollarization program that libertarian campaigner Javier Milei, who won the preliminary elections successful August, has presented arsenic a mode of stabilizing Argentina’s inflation, which reached 124% yearly that aforesaid month.

While experts person bashed Milei’s dollarization plan, this and the ideas of reducing the size of the authorities person enactment it astatine the apical of the polls, which gives him an vantage of up to 11% conscionable 4 weeks earlier the archetypal circular of the elections.

What bash you deliberation astir Massa’s connection of launching an Argentine integer currency? Tell america successful the comments conception below.