{"id":4767,"date":"2023-10-04T17:00:58","date_gmt":"2023-10-04T17:00:58","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=4767"},"modified":"2023-10-04T17:04:35","modified_gmt":"2023-10-04T17:04:35","slug":"argentinian-presidential-candidate-wants-to-use-cbdcs-to-combat-hyperinflation","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/argentinian-presidential-candidate-wants-to-use-cbdcs-to-combat-hyperinflation\/","title":{"rendered":"Argentinian Presidential Candidate Announces Goal to Use CBDCs to Fight Hyperinflation!"},"content":{"rendered":"

Argentinian presidential candidate Sergio Massa’s stance on central bank digital currencies appears to be in direct opposition to that of Javier Milei, a pro-Bitcoin candidate aiming to abolish Argentina’s central bank. Argentinian presidential candidate Sergio Massa has pledged to launch a central bank digital currency (CBDC) to “solve” Argentina’s long-standing inflation crisis if elected.<\/p>\n

You might like: What is Everscale (EVER)? Where to Buy?<\/strong><\/a><\/p><\/blockquote>\n

During a presidential debate on October 2, the country’s second major candidate explained his plans to “solve” the country’s devastating inflation after stating, “I clearly see that inflation is a big problem in Argentina.” He stated, “We will launch digital money in Argentina. This is something we will do globally across Argentina, and it will come with a whitewash law that allows them to bring and freely use their foreign exchange without new taxes.”<\/p>\n

Massa, who currently serves as finance minister, has rejected the idea of Argentina switching to the US dollar: “Dollarization is what creates the allure of the dollar. Be patriotic and defend our currency, do not encourage the use of the US dollar,” he said.<\/p>\n

Argentina’s general elections will take place on October 22.<\/p>\n

Two of the three main election polls indicate that Massa is slightly behind, while Bitcoin-supporting candidate Javier Milei, who opposes the central bank, appears to have won Argentina’s August preliminary elections.<\/p>\n

\"Argentinian<\/p>\n

Milei had previously indicated his desire to adopt the American dollar as Argentina’s currency. As an economist and libertarian, he has long displayed a skeptical stance toward central banking. One of his election promises is to abolish Argentina’s central bank. Milei previously described Bitcoin as a reaction against “central bank fraudsters” and said the Argentine peso was allowing Argentinians to be deceived by inflation. The Argentine peso has lost over 99% of its value against the US dollar since December 2023.<\/p>\n

\n

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Argentinian presidential candidate Sergio Massa’s stance on central bank digital currencies appears to be in direct opposition to that of Javier Milei, a pro-Bitcoin candidate aiming to abolish Argentina’s central bank. Argentinian presidential candidate Sergio Massa has pledged to launch a central bank digital currency (CBDC) to “solve” Argentina’s long-standing inflation crisis if elected. You<\/p>\n","protected":false},"author":2,"featured_media":4766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1171,1799,947,1800,1738,1739,945],"class_list":["post-4767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-argentina","tag-argentinian-candidate","tag-bitcoin-supporter","tag-cbdc","tag-central-bank-digital-currency","tag-digital-currency","tag-javier-milei"],"yoast_head":"\nArgentinian Presidential Candidate Announces Goal to Use CBDCs to Fight Hyperinflation! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Argentinian presidential candidate announces goal to use CBDCs to fight hyperinflation! 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