Argentinian Presidential Candidate Pledges Acceleration of CBDC Implementation
In Argentina’s recent presidential debate, candidate and current economy minister Sergio Massa surprised the nation with his proposal to introduce a central bank digital currency (CBDC) if elected.
Massa pledged to implement a digital currency for Argentina, drawing a mix of reactions. While some viewed it as a positive step toward modernization, many, especially within the Bitcoin and crypto community, expressed concerns. Manuel Ferrari, a board member of Bitcoin Argentina, criticized the idea, fearing it could disrupt the country’s informal cash-based economy and potentially exacerbate economic challenges.
Massa’s political rival, libertarian economist Javier Milei, strongly opposed the CBDC concept, labeling it as a dangerous government tool for taxation. Despite the heated debate, political analysts like Adam Dubove doubted the feasibility of Massa’s proposal, emphasizing the significant time and effort typically required for CBDC development globally, suggesting Massa’s idea might be more of a campaign slogan than a realistic plan.
Clever Robot News Desk 4th October 2023
