Has CBDC arrived in South America?
In new developments regarding the use of digital currencies around the world, the Director of the Argentine Central Bank, Juan Agustín Datlis Nogueira, revealed the bank’s intention to submit a draft law related to the issuance of a central digital currency (CBDC) in the country.
Datlis explained in an interview that there are ongoing efforts to develop the draft law and that it is expected to be presented as soon as possible to the Argentine Congress for approval.
However, the announced plans may face major challenges, especially with the approaching presidential elections in Argentina, which may bring different directions based on the results of the elections and the winning candidate.
In a related context, the Bitfinex platform, which specializes in exchanging digital currencies, announced the launch of a free P2P digital currency exchange service in Argentina, Colombia and Venezuela, a step aimed at encouraging and attracting more users to use the platform and simplifying trading and transfer processes between different currencies without the need to pay exchange fees.
In El Salvador, Vice President Velez Ulloa, in a recently published interview, explained the links between Bitcoin policies and economic reform in the country, noting that adopting Bitcoin as a legal currency contributed to stimulating the economy and attracting more investors and tourists to El Salvador despite opposition from some international bodies.
