Presidential Candidate Javier Milei Criticizes Proposed Argentine Digital Currency

Javier Milei Raises Concerns About Government Control and Taxation, While Voicing Support for Bitcoin

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Two days ago, on October 1st, Argentina held the first day of the official presidential candidates’ debate.

During this event, Sergio Massa, a candidate and the current Minister of Economy, announced that if elected, his government would introduce an “Argentine digital currency.”

According to reports, this initiative would be accompanied by a tax amnesty law and tax exemptions for those who use this digital currency, which could be considered a Central Bank Digital Currency (CBDC).

Today, Javier Milei, a national deputy and another presidential candidate who participated in the debate, shared his thoughts on the matter.

Presidential Candidate Javier Milei Criticizes Proposed Argentine Digital Currency
Javier Milei, national deputy and presidential candidate in Argentina.

In an interview with journalist Eduardo Serenellini on Radio Continental, the libertarian economist expressed his concerns:

“I’m not surprised at all that they’re proposing a project like this because it would, almost I would say, be the death of cash. This way, the government could track all your transactions and, consequently, charge you more taxes. It’s an extremely dangerous tool. That’s why I find all these types of solutions very unpleasant because they are mechanisms through which the government will reach into your pocket. Imagine the government knowing about all your transactions. Yes, they will increase your taxes.”

Javier Milei, national deputy and presidential candidate in Argentina.

Globally, Central Bank Digital Currencies (CBDCs) are a topic of study and debate.

Some countries, like the Bahamas, already have a fully operational digital currency. Others, like China, are in advanced testing stages.

In the European Union, the matter is being carefully studied before decisions are made. In the United States, there are legislators who want to prevent the creation of a digital dollar.

What does Javier Milei think about Bitcoin?

Milei has expressed his views on Bitcoin (BTC) on several occasions, and he does so with a tone quite different from when discussing an “Argentine digital currency.”

The economist has said, among other things, that Bitcoin is a natural response to the central banks’ deception.

Furthermore, Milei believes that it will be challenging for Bitcoin to achieve widespread adoption precisely because, as he claims, the state will resist it:

“What’s the problem? The problem is that states won’t give up their ‘legal tender’ status because they use it to defraud you with inflationary taxes.”

Javier Milei, national deputy and presidential candidate in Argentina.

In summary, Milei is skeptical of the government’s motives behind introducing a digital currency in Argentina, expressing concerns about increased government control and taxation.

However, his views on Bitcoin are more positive, considering it a response to central banks’ actions and inflationary policies.

He believes that Bitcoin’s adoption may face resistance from governments due to its potential to challenge their control over currency.

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