Bank AI

Worldcoin

Juan Agustín D’Attellis Noguera, Director of the Argentina Central Bank, supports developing a local CBDC.
The Minister of Economy, Sergio Massa, brought the <a href="https://twitter.com/TV_Publica/status/1709523189561237642" data-type="link" data-id="https://twitter.com/TV_Publica/status/1709523189561237642" target="_blank" rel="noopener noreferrer nofollow">initiative</a>, aiming to create a CBDC to solve the country’s complex economic situation. D’Attellis Noguera said creating a local <a href="https://crypto.news/national-bank-of-georgia-seeking-cbdc-development-partner-to-launch-pilot-environment/" data-type="link" data-id="https://crypto.news/national-bank-of-georgia-seeking-cbdc-development-partner-to-launch-pilot-environment/" rel="noopener noreferrer nofollow">CBDC</a> could help stabilize the Argentine economy.
Noguera stated:
<blockquote class="wp-block-quote">
 “By having traceability of operations with a digital currency because it is not known who does them, but there is evidence that they were done, you broaden the tax base. This will allow you to raise more without having to raise taxes and even lower them.”
</blockquote>
You might also like: <a href="https://crypto.news/worldcoin-breaks-an-all-time-high-user-record-in-argentina/" rel="noopener noreferrer nofollow"> Worldcoin breaks an all-time high user record in Argentina </a>
Noguera said that the CBDC could help to improve the local monetary system. He added that the digital peso will be introduced gradually and coexist with cash, aiming to replace fiat currency.
Massa, the current Minister of Economy and presidential candidate, said that if he is elected president, he will launch a CBDC to help fight the country’s inflation crisis.
<h2 class="wp-block-heading" id="crypto-landscape-in-argentina">Crypto landscape in Argentina</h2>
<a href="https://crypto.news/worldcoin-breaks-an-all-time-high-user-record-in-argentina/" data-type="link" data-id="https://crypto.news/worldcoin-breaks-an-all-time-high-user-record-in-argentina/" rel="noopener noreferrer nofollow">Argentina</a> is one of the countries with the highest inflation rates in the Latin American region and worldwide. During September, the inflation reached 124% monthly, one of the highest inflationary rates since 1991.
The country also faces problems with its local currency; due to the exchange ratio with the US dollar, the Argentine peso is losing value with time. The economic issues that the country are currently facing present an opportunity for the rapid development of the cryptocurrency industry.
Argentineans are trying to find alternative ways to fight the high inflationary economy levels, and cryptocurrency positions as a potential option.
You might also like: <a href="https://crypto.news/pro-bitcoin-candidate-wins-primary-elections-in-argentina/" rel="noopener noreferrer nofollow"> Pro-Bitcoin candidate wins primary elections in Argentina </a>

Argentina Central Bank director supports CBDC development

Table of Contents

crypto.news

Other articles published on Oct 5, 2023

Keywords Studios’ Unionized QA Workers Laid Off After BioWare Contract Ends

Former BlackRock Senior Executive Says $150-200 Billion Will Flow Into BTC Funds After Bitcoin Sp...

This Ethereum Competitor Is the Institutional Investors’ Favorite This Year, According to CoinShares

Exploring The World Of NFT Funko

Wirex taps ZK-proofs for non-custodial crypto debit card issuance

Polygon MATIC Volume Spikes As Polygon 2.0 Makes Grand Debut

Join our free newsletter for daily crypto updates!