During LABITCONF, La Libertad Avanza representative Diana Mondido said that they will legalize cryptocurrencies if they are victorious.
During the first day of the 2023 edition of LABITCONF, the potential of cryptocurrencies in the near future of Argentina was highlighted. In the Argentine Monetary Scenarios forum, possible economic policies of the Latin American country were analyzed in the event of a victory for the La Libertad Avanza party.
It was a high-level debate in which economic experts Diana Mondido, Agustín Etchebarni, Alfredo Roisenzvit and Fausto Spotorno were present. As it could not be otherwise, the debate was exciting, considering that Milei’s party is strongly committed to digital currencies.
It is important to consider that the crypto event is taking place in the midst of a high-temperature electoral environment. The second round will take place on November 19 between the two main rivals, Javier Milei and Sergio Massa. These will be measured to decide who will be the future occupant of La Casa Rosada.
On October 22, the first round was held with a surprise victory for the ruling party Massa. Both candidates represent radically different economic visions, but both have something to say about digital currencies. In any case, a scenario like LABITCONF could not go unnoticed by these parties, especially by LLA, the most enthusiastic of the crypto postulates.
Cryptocurrencies and LABITCONF: Promises of Legalization
One of the big obstacles in Argentina is the lack of clear regulation for the crypto sector. However, the LLA representative at LABITCONF 2023 made it clear that a victory for her party would have a positive outcome for cryptocurrencies. The other experts on this forum also gave their impressions on the inflationary outlook and possible solutions.
For Etchebarni, the big problem is the political system. He assures that Argentina is going through the third hyperinflationary wave and everyone knows what the problem is and how it is solved. However, the very structure of the State leads them to fall into the same hole again and again. In that sense, he comments that it is not surprising that the current government did not find solutions.
The specialists took advantage of the stage to talk about the issue of dollarization, one of the most controversial of this electoral campaign. “The proposal is and has always been: freedom of currency,” Mondido stressed. “Whoever believes they can make a contract in Bitcoin, let them do it,” she added. Mondido comments that the big problem is that the government makes access to dollars difficult.
She warns that currently a judge can interfere in a Bitcoin contract and force it to be converted to the official exchange rate. Under these circumstances, the LLA representative at LABITCONF 2023 says that financial freedom for cryptocurrencies and other assets is essential.
“If you think of the judicial system as the inverse of a Smart Contract then you will understand the Argentine economy,” she lamented.
Bitcoin Is an Ideal Asset
Roisenzvit, another of the forum members, stated that there is no reason to force people to use pesos when there are much superior assets. In this last sense, he mentions Bitcoin and says that it is one of the best options that people can have before them.
Participants in this LABITCONF 2023 forum believe that cryptocurrencies have the potential to remove problems that have been going on for decades. They do not depend on a central authority, and people can trade with them and generate trust without a third party.
By Leonardo Perez
