Daniel Vitolo, the General Inspector of Justice for Argentina, has expressed support for the growing crypto movement in the country. He believes that regulators need to embrace cryptocurrency technology to avoid being left behind as it continues to grow. Vitolo is part of Javier Milei’s government, which is known for its pro-libertarian stance.
Crecimiento, a grassroots crypto-native movement in Argentina, is working to establish Buenos Aires as a haven for crypto and tech founders. The goal is to collaborate with the government to create a favorable environment for the crypto industry, including tax incentives and funding.
The movement recently held a month-long pop-up city called Aleph in Buenos Aires to experiment with a safe space for testing different processes related to crypto. The organizers hope to eventually develop a special economic zone in the city to foster innovation and attract foreign investment.
Aleph has already attracted hundreds of local businesses to participate in a sandbox environment that tests token payments and self-sovereign ID apps. The goal is to gather feedback to inform future legislation at the federal level.
Regulators in Argentina, including the President of the SEC, have expressed support for the digital asset industry. They acknowledge the need to update regulations to accommodate tokenization and bring real-world assets on chain without overregulation.
The organizers of Aleph hope that their efforts will serve as a blueprint for the rest of Argentina, attracting companies and investors while maintaining predictability and regulatory clarity. Argentina’s potential to become a crypto-friendly hub is gaining traction, with authorities aiming to balance growth with responsible regulation.
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