Argentina's Dreams of Greater Crypto Adoption Imperiled By New Regulation, Milei's Shifting Rhetoric

When libertarian politician Javier Milei was elected president of Argentina towards the end of last year, many in the worlds of traditional finance and digital assets speculated that the seemingly pro-Bitcoin BTC/USD leader might help spur increased use of cryptocurrencies in South America's second-largest economy. But after new regulation was recently unveiled — which requires both companies and individuals working with, or trading, digital assets to register with the government — many are wondering if Argentina is now steering away from a new era defined by less regulation and greater use of cryptocurrencies. Critics of the new regulation see it as adding an unnecessary layer of compliance that will complicate crypto adoption rather than encourage it.