2020 will go down in history as the beginning of the COVID-19 pandemic and its impact on the Argentine economy. But it is also true that for decades Argentina has suffered economic problems associated with high economic pressure, the weakening of the national currency (Argentine peso), restrictions on the purchase of currency, and so on.
Furthermore, there have been incidents related to attempts to regulate the cryptocurrency ecosystem, as well as incidents related to private companies and the introduction of cryptocurrencies. Here is a summary of the events of the past year and the views of different people who have experienced it in the ecosystem.
First quarter 2020
In Argentina, they talk about the “bitcoin dollar” using a variety of methods to calculate the value of the US dollar.
It is proposed to invest in animal husbandry using digital tokens.
Bitso cryptocurrency exchange in Argentina fell
The former head of the Central Bank of Argentina proposes to create a digital currency
Argentina’s rulers are analyzing the possibility of issuing cryptocurrencies
Second quarter 2020
Bitcoin Quality stands out in Argentina’s banking system
Demand for cryptocurrency conversion is growing
Argentine banks impose withdrawal restrictions due to COVID-19
Bitcoin Argentina leader warns against trends towards holistic ideas as a result of COVID-19
The price of 1 BTC in Argentina is 1 million pesos.
Bitcoin is at a very high level for the Argentine peso
The Financial Intelligence Unit wants to tighten control over cryptocurrency transactions
Bitcoin completes half of
Restrictions on the purchase of dollars are tightened
The monetary emissions in Argentina are the largest in the last 30 years.
Bitcoin, Bitcoin price comparison tool launched
Paxful confirms significant growth in cryptocurrency exchange in Argentina
Third quarter 2020
The Financial Intelligence Unit controls who buys dollars with cryptocurrency.
The price of 1 BTC in Argentina is approaching 1.5 million pesos.
Athena Bitcoin installs Argentina’s first $ Bitcoin ATM
A poll by Paxful showed that Argentines believe investing in cryptocurrency is the most effective way to save money.
It is becoming more and more irrelevant to have dollars in Argentina.
4th quarter 2020
Due to dollar restrictions, more and more people are using cryptocurrency brokers and exchanges.
The price of 1 BTC in Argentina is approaching 2 million pesos.
Dai has become an attractive option for Argentines who want to invest or save
On October 29, a project to regulate cryptocurrencies was launched in Mission County.
The Central Bank of Argentina officially launched the Transfers 3.0 project
MP from the coalition “Together for Change” presents a project to regulate cryptocurrencies.
Representatives of Alliance Alliance officially presents to the National Congress a draft regulation of cryptocurrency
Manual de Criptomonedas utgitt.
Bitcoin Argentina takes a stand and is dissatisfied with initiatives to regulate cryptocurrency without consultation
Two measures at the national level in Argentina and one at the provincial level (in the province of Misiones) related to attempts to regulate cryptocurrencies.
The “Front of All” proposal has been formally introduced in the House of Representatives, signed by 15 national legislators. This initiative is entitled in File 6055-D-2020 “Integrated Regulatory Framework Applicable to Civil, Commercial and Crypto-Asset Transactions.”
On the other hand, the Argentine opposition spokesman Ignacio Torres in Together for Change also has a cryptocurrency project, but it has not yet been formally presented to Congress. This parliamentarian, who represents the Chubut District, holds a series of meetings and consultations on the subject with various sectors.
These projects have also been the subject of controversy and criticism from various sectors of the Argentine cryptosphere.
In addition, Provincial Representative Rocky Gervasoni of the Concord Renewal Front in Mision County introduced the bill to the House of Representatives. Registered under file D-55787/20, this is a bill that theoretically also proposes to regulate the cryptocurrency ecosystem. The initiative has another function – it creates a stock exchange.
Rodolfo Andragnes, president of Bitcoin Argentina, said:
“One of the very hot issues in November was the national bills that were developed to regulate cryptocurrencies, which have been heavily criticized by us.”
Pedro Rey Puma, director of the OKEx Latin America Community, commented: “We must highlight the presentation of the two bills that were presented to the UIF and the Congress, although I think they both need changes.