Argentinian Senate Passes USD 45B IMF Debt Deal That Discourages Crypto Use | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.00-0.34%
  • ethereum
    Ethereum(ETH)
    $0.000.210%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.00-0.06%
  • usd-coin
    USD Coin(USDC)
    $0.000.00%
  • binancecoin
    BNB(BNB)
    $0.001.17%
  • ripple
    XRP(XRP)
    $0.000.390%
  • binance-usd
    Binance USD(BUSD)
    $0.000.030%
  • cardano
    Cardano(ADA)
    $0.003.00%
  • dogecoin
    Dogecoin(DOGE)
    $0.007.56%
  • matic-network
    Polygon(MATIC)
    $0.00-0.58%
  • okb
    OKB(OKB)
    $0.000.050%
  • solana
    Solana(SOL)
    $0.00-0.86%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.000.070%
  • polkadot
    Polkadot(DOT)
    $0.00-0.29%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.001.22%
  • litecoin
    Litecoin(LTC)
    $0.002.62%
  • avalanche-2
    Avalanche(AVAX)
    $0.00-2.13%
  • tron
    TRON(TRX)
    $0.00-0.33%
View All
Coinparative
Home News

Argentinian Senate Passes USD 45B IMF Debt Deal That Discourages Crypto Use

March 19, 2022
in News
242 10
A A
0
Share on FacebookShare on Twitter

The Argentinian Senate, the upper chamber of the country’s parliament, has voted to approve a USD 45bn debt deal with the International Monetary Fund (IMF) in a move designed to prevent Argentina’s default.

The country’s government hopes the package will allow Argentina to leave behind a lengthy financial crisis, reported local daily La Nación. The vote converts the agreement into law, but it also introduces a controversial provision that discourages the use of cryptoassets by the country’s population.

In a bid to further safeguard Argentina’s financial stability, the country’s authorities said they vow to take important steps to discourage the use of cryptoassets “with a view to preventing money laundering, informality and disintermediation,” among others.

This said, the letter does not specify any precise methods Buenos Aires could use to hamper the population’s embrace of crypto. 

At the same time, Argentina’s government is also declaring it will further support the process of digitization of payments with the aim to improve the efficiency and costs of payments systems and cash management. This, however, does not include promoting the use of crypto, as suggested by the earlier statement.

The crypto provision is part of a Technical Memorandum of Understanding (TMU) that Buenos Aires signed with the international organization on March 3, and that accompanies the letter signed by Miguel Pesce, President of the Central Bank of the Argentine Republic, and Martin Guzman, the country’s Minister of Economy.

“Our plan is carefully calibrated to Argentina’s specific circumstances, notably the challenging economic and social situation which were exacerbated by the global pandemic,” the two officials said. 

“While commercial banks remain liquid and well-capitalized, strong bank oversight will continue, especially following the unwinding of pandemic-related regulatory forbearance,” they added. 

____

 
– Argentinian Finance Minister ‘Wants More Crypto Taxes’
– Argentina U-Turns On Crypto Tax With New Regulation

– Argentine Crypto Firm Sets up El Salvador Base to Side-step Fiscal Reporting Duties
– Argentinian e-Commerce Giant Invests in Mercado Bitcoin and Paxos

– Paraguay, Argentina Are ‘Targets for Crypto Miners’, May Provide Green Bitcoin Solution
– Argentina’s President Calls Crypto a ‘Hard Currency’ that Can Fight Inflation

– How International Fiat Fund Hurts Cash-Strapped Countries (FYI, El Salvador)
– IMF: Issue CBDCs, Improve Cross-border Payments to Counter Crypto’s ‘Phenomenal Growth’

Source: Crypto News

Share196Tweet123Share34Pin44ShareSend

Related Articles

Bitcoin (BTC) and Ethereum (ETH) Slowly Climb; Orbeon Protocol (ORBN) Ahead of the Competition With 1400% Gains
News

Bitcoin (BTC) and Ethereum (ETH) Slowly Climb; Orbeon Protocol (ORBN) Ahead of the Competition With 1400% Gains

January 31, 2023
1.4k
Strike Expands Remittances Via Send Globally Service Over Bitcoin’s Lightning Network to Philippines
News

Strike Expands Remittances Via Send Globally Service Over Bitcoin’s Lightning Network to Philippines

January 31, 2023
1.4k
News

Cryptonews.com

January 31, 2023
1.4k
Court-appointed examiner confirms Celsius operated as a Ponzi
Blockchain News

Court-appointed examiner confirms Celsius operated as a Ponzi

January 31, 2023
1.4k
Venom Ventures Fund commits $5M strategic investment in the Everscale blockchain
Press Release

Venom Ventures Fund commits $5M strategic investment in the Everscale blockchain

January 31, 2023
1.4k
Bitcoin poised for another attack on $24K as trader predicts ‘bearish February’
News

Bitcoin poised for another attack on $24K as trader predicts ‘bearish February’

January 31, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.