Argentina’s parliament approved the debt-refinancing plan with the International Monetary Fund (IMF) for $45 billion. The institution’s proposal includes a ban on the use of cryptocurrencies within the country.<\/p>\n
\nThe Congress enacted into law the Government’s agreement with the IMF that will allow the country to refinance the record debt of 2018, avoiding destabilising the economy.<\/p>\n
The result and the process are a firm step forward in the development of our Republic. pic.twitter.com\/Wb6koG1Trb<\/a><\/p>\n
\u2014 Mart\u00edn Guzm\u00e1n (@Martin_M_Guzman) March 18, 2022<\/a><\/p><\/blockquote>\n
On March 3, the IMF said it had reached an agreement with Argentine authorities regarding debt restructuring. The IMF statement published by the institution includes the item ‘Strengthening financial resilience’.<\/p>\n
\n‘To further ensure financial stability, we are taking important measures aimed at countering the use of cryptocurrencies to prevent money laundering, disintermediation and informal activity,’ the statement said.<\/p>\n<\/blockquote>\n
It is unclear what exactly this provision means. To clarify the situation, the nonprofit ONG Bitcoin Argentina sent Minister of Economy Mart\u00edn Guzm\u00e1n a request for detailed information.<\/p>\n
In particular, they asked him to provide data regarding the assessment of digital assets and their potential links to money-laundering operations in the context of the IMF agreements.<\/p>\n
In September 2021, the Central Bank of Argentina pointed to the use of cryptocurrencies to circumvent currency controls<\/a>.<\/p>\n