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Really?… PART II -I had a Deja Vu, now it is close to be real.

Not more than a week ago, I wrote a post dedicated to providing an objective view on what to my knowledge concerns the “regularization” of the Argentine State regarding the possession of cryptocurrencies. With less than ten days to go to the last month of the year and a few weeks after this “proposal” was known, I want to highlight again the negative points of why GOVERNMENTS SHOULD NOT TOUCH THE ASSETS OF THE USERS, AND MUCH LESS IF THEY ARE CORRUPT GOVERNMENTS.

  • Our currency is devalued, and everyone wants to get dollars and save in dollars.
  • By having a negative social impact with our own currency, the demand for dollars increased. What caused the government to impose a stocks, with a monthly limit of 200 USD of which if a person has contracted international digital services such as Netflix, that amount is deducted from the limit of 200.
  • For the minimum expense in dollars that an Argentine makes, a tax of 35% of that purchase and another 30% of the “Country Tax” is charged.
  • 200 USD is equivalent to 14,000 Argentine pesos, which does not reach the minimum wage by far. Considering that a person who earns a salary less than 40,000 pesos is considered “poor”, and going through 37% inflation.
  • Wanting to regulate the purchase, sale, savings or holding of cryptocurrencies, implies the intervention of the AFIP (Federal Administration of Public Revenues), which is one of the most fraudulent and functional organizations for the private interests of the powerful.
  • The socio-economic situation of Argentines is the worst recorded in the last 20 years.
  • The only ones who benefit from the crisis are always the same: the political class.
  • Enabling government surveillance of each person’s personal savings does not only mean a mindless shower of taxes, but also the empowerment of them to monopolize their possession.
  • The government is at its peak of corruption in the last 50 years.
  • Saving in cryptocurrencies that are valued in dollars and having to declare that holding whose price is changing every day will destroy its real value taking into account the amount of taxes that must be paid. When an Argentine goes over 40,000 pesos, he automatically begins to pay “income tax”, because not only is he not considered poor, but even if he is not a millionaire he must continue to pay ridiculous taxes.
  • the cryptographic community has taken pride in cryptos because it was and still is respect for financial independence and freedom. It is neither fair nor correct for governments to put their hands in it.
  • Argentina is in a great debt to pay 100 years with the International Monetary Fund and will want to get money from where it can. They have already filled the citizenry with more than 10 taxes for each asset they own, if they find the business of evasion and money laundering in crypto assets for their benefit, cryptographic freedom is over in Argentina.

DEJA VU {November 10-2020}

Inevitably the project will surely pass. The corrupt in power will monopolize the use of cryptocurrencies and Argentina, which is one of the countries with the most users that transact crypto assets, will cease to be. Socially, our nature tends to abandon everything that the government handles.


UPDATED DATA: there are already several deputies of the ruling party and the opposition who want to “create” exchanges with unqualified withholdings and taxes and a bunch of nonsense that the only thing they will encourage is the anger of the cryptographic community of Argentina. However, this phenomenon not only occurs in Argentina, but a few days ago the Venezuelan army inaugurated CRYPTOCURRENCY MINING FIELDS. The political situation in Venezuela is very cruel, its population is going through one of the worst crises they have had in its history, even so it seems that the Latin American Boom now is that the hungry peoples are deprived of the possibility of having their capitals safe and monopolize that option.


Last week, two legislative initiatives were known in Argentina that seek to regulate the use of cryptocurrencies. Given this, the NGO Bitcoin Argentina issued a press release in which it ensures that these projects do not represent its vision.

Both initiatives emerged last year from Changing Roles, a program in which university students debated and developed a draft bill on crypto assets. One of the final projects was delivered to Congress last Wednesday by Deputy Liliana Schwindt, from the Frente de Todos. The other, from the deputy Ignacio Torres, from Juntos por el Cambio, has not been presented so far.

According to the statement that the aforementioned NGO sent to this medium, they were not consulted for the drafting of any of the projects. They add that “to achieve genuine consensus, they must emerge from a mature process of participation and dialogue between all participants in the ecosystem and the community as a whole.”

Bitcoin Argentina does not underestimate “the value that legal certainty offers to the development of technological innovation.” In any case, it clarifies that this “cannot and should not be done in favor of adding a large and novel legal burden on the individual or service provider.” They warn that “unenforceable bureaucratic demands” could prevent the creation of disruptive projects. Even so, they are open to accompany the debate on proposals that promote the adoption of cryptocurrencies. They emphasize the importance of not “criminalizing voluntary interactions between people” and argue that the limits of application of this type of law should be “clear and aware of the complexities of this technology, and not subject to the free and variant interpretation of the authorities ».

On the same day that she presented the bill, to a general negative reaction from the bitcoiner community, Deputy Schwindt tweeted that she is open to listening to all actors in the local ecosystem. “It is time to start discussing issues that are breaking out and expanding rapidly and on which there is no legislation,” he wrote there.


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