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<![CDATA[<figure class="image"><img src="https://cimg.co/news/125977/332627/adobestock-510983628-medi.jpeg" alt="" srcset="https://cimg.co/news/125977/332627/responsive-images/adobestock-510983628-medi___media_library_original_1500_843.jpeg 1500w, https://cimg.co/news/125977/332627/responsive-images/adobestock-510983628-medi___media_library_original_1200_674.jpeg 1200w, https://cimg.co/news/125977/332627/responsive-images/adobestock-510983628-medi___media_library_original_900_506.jpeg 900w, https://cimg.co/news/125977/332627/responsive-images/adobestock-510983628-medi___media_library_original_720_405.jpeg 720w, https://cimg.co/news/125977/332627/responsive-images/adobestock-510983628-medi___media_library_original_600_337.jpeg 600w, https://cimg.co/news/125977/332627/responsive-images/adobestock-510983628-medi___media_library_original_300_169.jpeg 300w" sizes="100vw" width="1500" class="content-img"><figcaption>Source: GoodIdeas/Adobe</figcaption></figure>Argentina&rsquo;s presidential candidate, Sergio Massa has touted a Central Bank Digital Currency (<a href="https://cryptonews.com/tags/CBDC">CBDC</a>) to solve the country&rsquo;s worsening inflation crisis.In the nation's <a href="https://youtu.be/2JFfXUvqMXk?si=9rbiO9nipnkmIaqv">first Presidential debate</a>, Massa who currently serves as Economy Minister wants a digital currency to put the economy at the same pace with others globally.<blockquote>&ldquo;We are going to launch the digital currency in Argentina. We are going to do it globally for all of Argentina accompanied by a laundering law that allows those who have money abroad to bring it and use it freely without new taxes in parallel.&rdquo;</blockquote>Tightening hyperinflation is a central issue among all political parties in the election as the data places the country&rsquo;s annual inflation at 115% with a poverty rate of 40%.The Minister made the call to set the ball rolling with a CBDC and drew comparisons with the future of finance through easy trades.&ldquo;Just like your children propose to trade with their phones or cards in their &lsquo;platform economies,&rsquo; we will do it globally for all of Argentina,&rdquo; he added.&nbsp;<h2 id="massa-against-dollarization">Massa against dollarization&nbsp;</h2>Massa also uses the opportunity to speak against the plans of pro-Bitcoin candidate Javier Milei who recently proposed adopting the dollar in the country to tackle inflation.&nbsp;He urged patriots to vehemently reject this policy as it would be bad for the future policies in the country.&ldquo;Dollarization is what generates the temptation of the dollar. Be patriots [and] defend our currency, do not promote the use of it [the U.S. dollar].&rdquo;&nbsp;Milei has been a strong <a href="https://cryptonews.com/news/pro-bitcoin-libertarian-javier-milei-takes-surprising-lead-in-argentine-presidential-primary-election.htm">supporter of Bitcoin</a> declaring support for the cryptocurrency and firing heavy shots at the Central Bank calling for the institution to be <a href="https://elpais.com/argentina/2023-07-23/javier-milei-es-recontra-facil-dolarizar-argentina.html">completely abolished</a>.He described the Central Bank as scammers and fiat as a means for politicians to use inflation in crippling the economy.&nbsp;The country&rsquo;s election would be held on Oct. 22 with two polls showing a slight lead for Milei.&nbsp;<h2 id="crypto-community-rejects-cbdc-move">Crypto community rejects CBDC move&nbsp;</h2>Manuel Ferrari, a Bitcoin Argentina board member, called the decision a distraction from pressing issues in the country like triple-digit inflation caused by &ldquo;brutal levels of corruption.&rdquo;&nbsp;He further raised concerns with the design of the CBDC and its implementation linking it to a tax-generating move.&ldquo;Argentina has over 50% of its commerce that operates informally and with cash,&rdquo; he said, explaining that the proposal would &ldquo;destroy what supports most of our country,&rdquo; he added.&nbsp;In the United States, critics have also pushed against plans to roll out a CBDC describing it as a form of government control.&nbsp;<figure class="media"><oembed url="https://twitter.com/cryptonews/status/1661776630178521088?s=46&amp;t=sCvh3f3rMDfXyJcf1y1Eyg"></oembed></figure>Crypto-friendly lawmakers and Florida Governor, Ron DeSantis have fired back at Biden&rsquo;s administration's <a href="https://cryptonews.com/news/florida-governor-ron-desantis-vows-put-an-end-bidens-war-bitcoin-as-president.htm">war on the industry</a> with promises to stop anti-crypto policies.
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Argentina’s Presidential Candidates Bitcoin and CBDCs Debate Trigger Reactions

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