July 1, 2022

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“The fact that the agreement with the IMF does not encourage the use of cryptocurrencies is to be blamed” by Cointelegraph

© Reuters. Argentine MP Slams: “Agreement with the International Monetary Fund Discourages the Use of Cryptocurrencies is Reprehensible”

The Argentine representative for the province of Mendoza, Jose Luis Ramon, has criticized through his Twitter account (NYSE:) the willingness of the International Monetary Fund to “discourage” the use of cryptocurrencies as part of the understanding with Argentina. The MP specifically criticized the last point on page 19 of the section referring to the so-called “growth and resilience policies,” in which he stated: “In order to better protect financial stability, we are taking measures with a view to discouraging the use of cryptocurrencies with the aim of preventing money laundering and unauthorized official and non-mediated. According to the department’s letter, although it seeks to “further support the current process of digitization of payments to improve the efficiency and cost of payment systems and cash management,” greater regulation is also expected to “protect consumer financial protection.”

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Ramon argued that “the way to prevent this is not to discourage the use of cryptocurrencies, but to update to current times” and explained that “this is not the first time that the Central Bank of the Argentine Republic has refused to use cryptocurrencies.” In this sense, he recalls his words a year ago where he commented that “the central bank must enhance the capabilities of entrepreneurs and new technologies or solve the problem of thousands of families being deceived by banks.”

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