Following the inauguration of libertarian Javier Milei as Argentina's president on December 10, the local cryptocurrency community expressed hope for his potential to fulfill promises of elevating the country's cryptocurrency adoption similar to El Salvador's President Nayib Bukele.
On his inauguration day, Latin American outlet Cryptonoticias published an article titled "Bitcoin’s Three Requests for Milei" from the crypto community. Camilo Jorajuría, vice president of the NGO Bitcoin Argentina, urged Milei to prioritize the privacy of citizens and avoid implementing what he deemed as overly stringent measures from the Financial Action Task Force (FATF).
Jorajuría's specific reference was to the FATF’s Travel Rule, which mandates virtual asset service providers to share information regarding the senders and recipients of virtual assets. The cryptocurrency advocate also highlighted El Salvador's example as a potential model for Bitcoin adoption and regulation.
Argentinian cryptocurrency proponent and columnist Adam Dubove believes that the incoming president should uphold his pledge for substantial currency reform by initiating the dismantling of Argentina’s Central Bank (BCRA) regulatory framework.
Mónica Taher, a former employee of the Salvadoran government, welcomed Milei's positive stance on cryptocurrencies. She anticipated that Argentina, due to its economic size, could draw investors from El Salvador if the government takes steps to promote the digital ecosystem.
Javier Milei secured victory in Argentina's presidential election on November 19, promising radical reforms such as abolishing the BCRA and fully transitioning to a dollarized economy. However, Fernando Nikolić, an Argentinian Bitcoin advocate and founder of media analytics firm Bitcoin Perception, cautioned after the election that the cryptocurrency community's optimism for Milei should be tempered. He noted that Milei's official plan doesn't explicitly include being "Bitcoin-friendly" or enacting laws favoring the cryptocurrency.
