Argentina’s economy is crashing while Milei goes on a date with Elon Musk
Argentina’s economic woes intensify as inflation hits record highs, pushing tourists and dollars away. Amidst this financial turmoil, President Javier Milei finds time for a little date with Elon Musk in Texas. Argentina’s allure as a budget-friendly destination is fading fast. Tourists, who last year injected $3.2 billion into the economy, are now turning elsewhere […]
Argentina President Milei’s crypto stance tested as country adopts international AML standards
Argentina, government has introduced mandatory registration requirements for crypto firms. The Comisión Nacional de Valores (CNV), Argentina’s securities regulatory authority, announced that virtual asset service providers must comply with the new regulations designed to enhance the country’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) framework. This move aligns with the recommendations from […]
Is Argentina really dumping dollar for Bitcoin? How?
The streets and online forums of Argentina are buzzing, not with the usual chatter about football or politics, but about something quite unexpected—Bitcoin. You might think that in a country where the dollar has long been king, such a shift would be unthinkable. Yet, here we are, witnessing a significant pivot as Argentinians increasingly cozy […]
Bitcoin adoption soars in Argentina amid economic turmoil
In response to Argentina’s staggering inflation rate of 276%, citizens are increasingly turning to Bitcoin as a safeguard against economic instability, marking a notable shift in financial strategy. The surge in Bitcoin purchases comes amidst a decline in the traditional practice of exchanging pesos for dollars, which historically served as a hedge against inflation in […]
Javier Milei says Argentina’s economy doesn’t need Congress
Javier Milei, the libertarian president of Argentina, has tossed the traditional playbook out the window. He’s decided to dodge the roadblocks set by unfriendly legislators who have been stonewalling his major economic reform plans. Instead, he’s reaching for a different set of tools—decrees and executive powers—to put his radical austerity measures into play. Speaking from […]
Argentina leads Latin America in stablecoin adoption during financial instability
Argentina has emerged as the leading nation in Latin America for the purchase and holding of stablecoins, with a significant preference for Tether (USDT) and Circle’s USD Coin (USDC) over the past six months. Argentine citizens are holding stable coins as a hedge against the country’s ongoing economic instability and the depreciating value of the […]
Argentina leads Latin America in stablecoin adoption amid economic crisis
Argentina has emerged as a frontrunner in adopting stablecoins within Latin America, reflecting a strategic response to the nation’s economic turmoil. Bitso, a Mexican-founded crypto exchange, released its ‘Crypto Landscape in Latin America: Report 2H 2023,’ shedding light on the cryptocurrency trends across several Latin American countries. Stablecoins prevail in Argentina Amidst severe economic challenges […]
OKX expands into Argentina, targeting Latin American crypto market
OKX, a leading cryptocurrency exchange, has announced its expansion into Argentina following its successful launch in Brazil in late 2023. This strategic move underscores OKX’s commitment to targeting the burgeoning Latin American crypto market. In a recent statement, OKX revealed that Argentinian users would gain access to its comprehensive crypto exchange platform, complemented by a […]
Argentina’s president faces challenges over independent currency bid
The corridors of power in Argentina are ablaze with controversy as President Javier Milei forges ahead with an audacious reform bill that has split the nation. After an intense and prolonged debate, Argentina’s legislators have given the green light to Milei’s comprehensive reform package, marking a significant milestone with a 144 to 109 vote victory […]
IMF is very optimistic about Argentina’s economy
Argentina’s economic landscape has been a rollercoaster of ups and downs, yet amidst the economic turbulence, the International Monetary Fund (IMF) casts a hopeful gaze toward the South American nation. The recent commendations from IMF Managing Director Kristalina Georgieva regarding Argentina’s economic overhaul under President Javier Milei’s administration highlight a significant shift in narrative from […]
Javier Milei’s administration withdraws crypto tax breaks amid congressional debate
The Argentine government under Javier Milei has made a pivotal adjustment to its legislative approach towards cryptocurrency taxation. This adjustment was encapsulated in the latest omnibus bill, “Law of Bases and Starting Points for the Freedom of Argentines,” presented to Congress. Under President Javier Milei’s leadership, the bill originally included provisions for Argentine citizens to […]
Argentina’s eccentric President shakes up Congress
The political landscape of Argentina is witnessing a seismic shift under the leadership of its unconventional President, Javier Milei. With a libertarian flair, Milei has catapulted a comprehensive state reform bill into the halls of Congress, targeting key areas such as tax, penal, electoral, and the party system. This move marks a significant escalation in […]
Will Argentina’s crypto redemption succeed?
Argentina is at a crossroads, with the spotlight on cryptocurrency as a potential savior in its economic playbook. The recent maneuver by the country’s Libertarian leadership, helmed by President Javier Milei, has stirred a pot of both hope and skepticism. This is not just about adopting a new financial trend; it’s a gamble on digital […]
Argentina grapples with a gloomy Christmas – Why?
In Argentina, the Christmas spirit is being overshadowed by a stark economic reality. The once-vibrant festive season is now marred by soaring inflation, impacting everything from traditional foods to basic necessities. Argentina, known for its rich cultural celebrations, faces a significantly toned-down holiday season this year. Unprecedented Inflation Hits Home The root of Argentina’s gloomy […]
Stablecoins plummet amid the bull market frenzy- What happened?
The recent market analysis shows that the Ethereum stablecoin has dropped by 34% since the Year 2022. On the other hand, stablecoins like Tron have a value of 57. 7% another time frame. Based on research by SixDegree there has not been an increase in value based on the recent bool market stable coins total […]
China slams brakes on Argentina’s $6.5b currency swap
In a dramatic turn of events, China has abruptly put the brakes on a crucial $6.5 billion currency swap agreement with Argentina, signaling a significant shift in international economic relations. The pause in this vital financial deal, which has been a lifeline for Buenos Aires since 2009, comes as a direct response to Argentina’s newly […]
Argentina to embrace Bitcoin for contracts
Argentina is set to embrace Bitcoin and other cryptocurrencies for contractual settlements and payments, marking a significant shift in the country’s economic and financial landscape. Diana Mondino, Argentina’s Minister of Foreign Affairs, International Trade and Worship, has indicated that a recent decree aimed at economic reform and deregulation will encompass the use of Bitcoin and […]
Why is Argentina auctioning its debt?
In a move that signifies a paradigm shift in its economic strategy, Argentina has embarked on a massive auction of its treasury debt, totaling approximately 2.96 trillion pesos ($3.7 billion). This action is part of the government’s broader initiative to untangle a complex web of short-term central bank arrears, predominantly held by local creditors. The […]
Javier Milei releases bold economic deregulation decree for Argentina
In a bold move that marks a drastic shift in Argentina’s economic policy, the country’s new libertarian president, Javier Milei, has unveiled a comprehensive emergency decree. This decree, released on Wednesday night, encompasses over 300 measures aimed at deregulating the nation’s economy. The sweeping reforms introduced by Milei are set to dismantle major regulations across […]
BRICS: Argentina’s Peso faces sharp devaluation under new president Javier Milei
Argentina is witnessing a significant economic shift under the leadership of its newly elected president, Javier Milei. Following the country’s rejection of an invitation to join the BRICS alliance, Milei has embarked on a series of economic reforms poised to profoundly impact the nation’s currency, the Peso. These reforms, characterized by substantial government budget cuts, […]
Argentina holds back on the US dollar – Here is why
Argentina, in a bold move under the new government of President Javier Milei, is gearing up for a major economic overhaul. Economy Minister Luis Caputo is set to announce the first in a series of measures aimed at tackling the country’s soaring inflation, which has eclipsed 140% annually. These decisive actions are part of Milei’s […]
A look at Argentina new president’s economic to-do list
As Argentina ushers in Javier Milei, its new very cool, anarcho-capitalist president, the nation braces for an economic overhaul. Milei, a figure who has idolized economic stalwarts like Milton Friedman, steps into a role fraught with challenges. Once a powerhouse in the global south, Argentina now finds itself ensnared in economic turmoil, a legacy of […]
Argentina declines BRICS invitation under new leadership
Argentina has announced its decision to reject the invitation to join the BRICS bloc, an influential group comprising Brazil, Russia, India, China, and South Africa. This decision aligns with the incoming president Javier Milei’s strategic orientation toward the United States and signifies a noteworthy shift in Argentina’s international positioning. Diana Mondino, appointed Foreign Affairs Minister […]
President Javier Milei to dissolve Argentina’s central bank
Buenos Aires – President-elect Javier Milei of Argentina, known for his unapologetically bold economic reforms, has reaffirmed his commitment to disbanding the nation’s central bank. This move, long considered a cornerstone of his libertarian agenda, stands as a testament to his unwavering stance on radical economic restructuring. New Cabinet, New Directions As Milei readies to […]
Artificial Intelligence in the Ballot Box: Unpacking Argentina’s AI-Powered Election
In political campaigning, a new player has entered the field: Artificial Intelligence (AI). This technology, known for its prowess in various sectors, has now significantly shaped political narratives and influenced voter opinions. The recent Argentine elections serve as a prime example, where AI-generated content, including deepfakes and fabricated images, played a pivotal role in the […]
El Salvador’s BTC team to jet for Argentina – Is Javier ready to go all-in on crypto?
It would appear that presidents in the LATAM economic region have become consumed with adopting Bitcoin. El Salvador’s president, Nayib Bukele, allowed the country’s Bitcoin team to travel to Argentina in order to assist the incoming president, Javier Milei, in comprehending the significance of decentralized finance. El Salvador to show Argentina how Bitcoin adoption is […]
China responds to Argentina’s dollarization – BRICS will NOT beg
The crypto world was up in cheer yesterday when Pro-Bitcoin Javier Milei won the presidential elections in Argentina. As it appears, the president-elect will work with the US dollar, and China has something to say about that decision. Argentina’s invitation to join the BRICS economic bloc, given just three months ago, is now unlikely to […]
Everything to know about Argentina’s new pro-crypto President
Javier Milei, Argentina’s newly elected president, has shaken the political landscape with his radical ideas and commitment to cryptocurrency. Elected under the banner of the Liberty Advances Party, Milei’s unconventional approach to economics and governance has captured both attention and criticism. Early Life and Career Born in 1972 in Buenos Aires, Milei had a troubled […]
Formidable challenges await Javier Milei in Argentina
Javier Milei’s victory in Argentina’s presidential election marks a significant political shift, but it also heralds a time of immense challenges for the newly elected leader. Known for his “anarcho-capitalist” stance and radical economic proposals, Milei faces a host of obstacles in implementing his vision for Argentina, a country currently grappling with severe economic issues. […]
Javier Milei wins Argentina’s presidency, eyes Bitcoin shift
In a significant political upheaval, libertarian Javier Milei has emerged victorious in Argentina’s presidential election. Milei, a vocal proponent of Bitcoin and a critic of central banking, leads the La Libertad Avanza alliance, which secured nearly 30% of the votes in a tightly contested race. This victory marks a pivotal change in Argentine politics, with […]
Argentina shifts from dollar to yuan for IMF settlement
Argentina, forging a bold path as the newest BRICS member, has embarked on a groundbreaking financial maneuver by settling a substantial International Monetary Fund (IMF) payment with the Chinese Yuan. This pivot away from the traditional stronghold of the US dollar speaks volumes of the financial duress faced by the nation—dwindling dollar reserves have compelled […]
BRICS comments on Argentina’s intention to dump the Peso for the US Dollar
Argentina is facing the worst possible inflation crisis, and the survival of its people is in a risky place. The world of international finance has experienced its fair share of events that have been coupled with decisions that could have far-fetched implications for global economic and political sectors. Argentina was invited to join the BRICS […]
Argentina hastens legislative steps for digital peso amid political divisions
In a significant pivot towards modernizing its financial systems, the Central Bank of Argentina is doubling down on its efforts to launch a Central Bank Digital Currency (CBDC). This move comes as the nation grapples with political divides over the future of its economy. Politics and the CBDC: A balancing act Recently, Juan Agustín D’Attellis […]
Is Argentina going to reject the BRICS invitation?
A seismic shift is brewing in the political and economic landscape of South America, and Argentina finds itself at the epicenter. With BRICS seeking to expand its influence by inviting Argentina along with five other nations to its fold, Argentina’s stance remains shrouded in uncertainty, thanks largely to its impending general elections. Electoral Politics Casts […]
Argentina’s central bank director backs digital peso initiative
Juan Agustín D’Attellis Noguera, a key figure at Banco Central de la República Argentina, has put his weight behind the “digital peso.” This move comes in tandem with Economy Minister Sergio Massa’s vision of leveraging a central bank digital currency (CBDC) to solve the nation’s fiscal issues. In a recent television appearance, Noguera highlighted the […]
Argentina’s economic crossroad: CBDC or dollarization, the voter’s dilemma
The upcoming presidential election in Argentina, scheduled for October 22, holds significant economic implications. Sergio Massa, Minister of the Economy and presidential candidate for the Union for the Homeland party has committed to introducing a central bank digital currency (CBDC). This proposal comes amid Argentina’s long-standing struggle with hyperinflation, making monetary policies a focal point […]
Argentina’s capital pioneers blockchain in government IDs
The Argentinian capital, Buenos Aires, has made waves by announcing the forthcoming launch of a blockchain-based digital ID wallet called Quarkid. This digital wallet is geared to empower its citizens, granting them full control over their data. Using Zksync Era—a zero-knowledge Ethereum L2 protocol—Quarkid aims to set new standards in data privacy. Created in collaboration […]
Tecpetrol pioneers gas-driven crypto mining in Argentine Patagonia
Buenos Aires-based oil firm Tecpetrol has rolled out an innovative solution. By mid-fall, the company will launch its first gas-driven crypto mining facility in the Los Toldos 2 Este region, located north of Vaca Muerta in Argentine Patagonia. This endeavor stems from a dual motivation, advancing their crude oil production while capitalizing on otherwise discarded […]
Argentina’s struggle with hyperinflation continues amid peso-dollar tug of war
Argentina has been entangled in hyperinflation for decades, primarily stemming from ineffective policies resulting in persistent budget deficits. With each passing day, the prospect of a complete currency collapse in Argentina, a nation with a population of 47 million, becomes increasingly imminent. Meanwhile, Argentina’s recent trade data reveals that the significant decline in imports last […]
Bitcoin hits new highs in Argentina amid hyperinflation
In the midst of economic turbulence and hyperinflation, Bitcoin has emerged as a beacon of hope in Argentina’s financial landscape. In recent times, the cryptocurrency has shattered previous records, reaching unprecedented highs. This meteoric rise is not only a testament to the global resurgence of interest in digital currencies but also a stark reminder of […]
