Until March 26, Javier Milei's administration is facing a crucial crossroads in relation to cryptocurrencies: defining whether it will implement a regulatory framework for companies linked to these assets or run the risk of being added to the "gray list" of the FATF.


¿Qué es el GAFI?

It is an international organization that fights against money laundering and the financing of terrorism. Argentina has been a member since 2000.

What does the FATF "Grey List" entail?

Being on the FATF "grey list" could complicate access to international financial markets, deter the attraction of investments and increase the costs associated with transactions.

The FATF and its Demands

The FATF seeks for countries to regulate companies that offer services related to cryptocurrencies to prevent money laundering and the financing of terrorism.

Actions of the Argentine Government

In the Senate, a bill is being debated that redefines the powers of the Financial Information Unit (UIF) and establishes a "Registry of Virtual Asset Service Providers" under the orbit of the National Securities Commission (CNV).

Position of Cryptographic Companies

Companies specialized in cryptocurrencies support the establishment of a regulatory framework that provides greater certainty to investors.

Javier's perspective #Milei

Although Milei has expressed his inclination for economic deregulation, the ultimate decision does not fall solely in his hands.

Possible scenarios

In the event that Argentina does not establish a regulatory framework for cryptocurrencies, it could face inclusion in the #GAFI "gray list" in October 2024.

What options do we have in Argentina?

  • Keep calm and do nothing

  • Remove all cryptocurrencies from local fintechs (from Argentina)

  • Get all the money out of local fintech companies (since if they come for crypto, can they also analyze past activity?)

  • Take everything to a cold wallet

  • Sell ​​everything and take it out via cave

  • Sell ​​everything and take it out via P2P (with banks)

What do we do with cryptocurrencies?

Those who are from #argentina comment on what they will do with the cryptocurrencies they have on platforms (exchanges), whether national or not.

I await your comments

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Este contenido no constituye asesoramiento financiero ni de inversión. Se recomienda consultar con profesionales financieros antes de tomar decisiones relacionadas con criptomonedas. No nos responsabilizamos por las acciones basadas en esta información.