In a recent statement, Argentina's president-elect Javier Milei reaffirmed his decision to close the country's central bank.
Javier Milei wants to put an end to the Central Bank of Argentina, a financial institution that he has called a “scam” and which he blames for the economic problems facing the nation.
Although rumors circulated this week about a possible change of mind by Milei regarding the closure of the central bank, in a recent statement issued by the presidential office and disseminated by various media, he confirmed that This is not a negotiable matter and will continue with the radical work plan that he presented during his campaign.
Milei made her flag libertarian and anti-system vision to reform Argentina's economy, promising to eliminate the central bank and the forced exchange rate of the peso, which will allow the free circulation of different currencies in the country, including the cryptocurrency Bitcoin.
According to statements by Argentina's president-elect, citizens will be able to choose which currency to use for the exchange of value, whether it be the dollar, the euro or bitcoin.
Economist Diana Modino, who is Milei's right-hand woman, also confirmed the new Argentine president's position during her speech at the Labitconf conference, which was held on November 10 and 11. During this speech, Modino emphasized that the proposal "has always been and will always be freedom of currency," therefore, those who want to use Bitcoin and enter into contracts with this cryptocurrency will be able to do so freely, she indicated.
Javier Milei wants to pave the way for a new policy of monetary freedom
Javier Milei wants to break with the paradigm of the national currency issued and controlled by the central bank and give way to a new policy of monetary freedom, in which money returns to its original creator.
According to the NGO Bitcoin Argentina, the new policies that Milei plans to implement could help Argentina regain its economic prosperity, in addition, they could drive greater adoption of Bitcoin as a monetary solution as well as the connection of the Argentine financial system with the crypto ecosystem in general.
Leonardo Klug of the country’s Bitcoin NGO told Cointelegraph that Milei could overturn all the absurd restrictions that the Central Bank of Argentina had implemented against cryptocurrencies. The NGO also hopes that bills seeking to implement excessive controls on crypto-asset companies and businesses will be scrapped and that the new president-elect will instead adopt a more innovation-friendly regulatory regime.
To date, nearly a dozen nations around the world operate their economic systems in the absence of a central bank, such as Panama, Andorra and Monaco, Liechtenstein, Zimbabwe, among others.
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