Argentina President Milei Disappoints Some Bitcoiners as Crypto Registration Rule Begins
Summary
Argentina has implemented a Registry of Virtual Asset Service Providers (VASP), requiring platforms and individuals involved in cryptocurrency transactions to register. The law has been criticized by some who had hoped for a more Bitcoin-friendly approach similar to El Salvador. The regulation has already impacted users of the payment app Strike, which has stopped supporting the Send Globally function between Argentina and the U.S. President Javier Milei, who took office in December 2023 amid high inflation, had previously praised Bitcoin as a protection against central banking and inflation. Despite the criticism, some see the new law as a necessary step for Argentina to attract more foreign investment.
