Argentina weighs cryptocurrency regulation

Argentine congressman Ignacio Torres is preparing to introduce in the local legislature a bill regulating cryptocurrencies.

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According to Cointelegraph, the chief operating officer of Athena Bitcoin’s Argentine arm, Efraín Barraza, and Bithan CEO Alberto Vega, who helped draft the document, said the bill is needed by the local cryptocurrency industry. In their view, it cannot develop while it remains outside the law.

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They noted that, compared with other countries, Argentina lags significantly in cryptocurrency regulation, leaving local crypto firms facing difficulties, and investors without protection.

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In April, amid worsening economic conditions in Argentina, residents’ interest in Bitcoin rose noticeably.

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In October, the price of Bitcoin reached an all-time high against the Argentine peso.

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