Argentina Passes Bill That Considers Crypto Ban

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The Parliament of Argentina has just approved a $45 billion debt refinancing project to the International Monetary Fund (IMF) which, among other things, includes a ban on the circulation of cryptocurrencies in the country.

The IMF announced on March 3 that it had reached an agreement with representatives of Argentina regarding debt restructuring. It is worth taking into account that the statement released by the institution includes the item “Strengthening Financial Strength”. According to the agreement:

“In order to further ensure financial stability, we are taking important measures aimed at countering the use of cryptocurrencies in order to prevent money laundering, disintermediation and informal activity.”

However, the exact meaning of this provision is not clear. For this reason, non-profit organization ONG Bitcoin Argentina asked the country’s Minister of Economy, Martin Guzman, to give some more details about the valuation of digital assets and their potential connection with money laundering operations in the context of agreements reached with the IMF.