Argentine President Alberto Fernandez when asked about considerations on the central bank’s digital currency (CBDC) or following in El Salvador’s footsteps of making Bitcoin (BTC) a legal tender, the figure explained: “There is no reason to say no. Maybe that's the best way. "
He added that digital assets offer the advantage of reducing the impact of inflation.
Based on records by Bloomberg’s World Misery Index, Argentina’s economy was the second worst in the world when former president and businessman Mauricio Macri stepped down to Fernandez.
Government data shows that 100 pesos when Macri left the government in 2019 is worth the equivalent of 661 pesos today.
However, Fernandez is still skeptical and wants the crypto sector approach to be done without haste as it is a still ‘young’ industry.
At the same time Argentina’s central bank chairman Miguel Pesce argues otherwise, rejecting crude digital asset disclosure because he considers it an asset that undermines economic stability.
Even if there is a development of the crypto sector in the country, Pesce proposes strict legislation.
Similarly to the CBDC, Pesce is completely opposed to the idea of developing such a currency.
