Crypto is dominating the headlines across the board in Argentina, with an ambitious private member’s bill proposing the legalization of cryptoassets and the launch of a central bank digital currency (CBDC) heading toward a parliamentary vote.
According to iProUp, the bill has been masterminded by Ignacio Torres, an MP for the main opposition coalition party Juntos por el Cambio (meaning “Together for Change”).
Torres’ bill has been drawn up in conjunction with pro-business pressure groups and fintech industry bodies, but still has to pass one hurdle before MPs in the Argentine lower house, the Chamber of Deputies, votes on the measure: The bill should pass before the regulatory Financial Information Unit next week. The unit is mainly charged with policing anti-money laundering (AML)-related matters.
But should the regulator approve the bill and decide not to amend it before the MPs vote, Argentine lawmakers could be given the power to grant crypto legal status. The bill also proposes recognizing tokens as having financial value – and would allow companies in the nation to accept bitcoin (BTC) and altcoins and process crypto payments.
Torres also wants the central bank to commit to launching launch an e-peso – a CBDC.
Elsewhere in the country, the crypto betting service Cloudbet has announced it is launching its services in Argentina.
Per Criptonoticias, the firm has created a website and blog in Spanish specifically for Argentina-based crypto gamblers.
Cloudbet stated that it would provide sports betting and a “welcome bonus of up to BTC 5” for new members from the Latin American nation.
The media outlet quoted a spokesperson for Cloudbet as stating,