![Latam Insights: South African Ponzi Scheme Boss Dies in Brazil, Argentine House Passes Crypto Tax Regularization Bill Latam Insights: South African Ponzi Scheme Boss Dies in Brazil, Argentine House Passes Crypto Tax Regularization Bill](https://static.news.bitcoin.com/wp-content/uploads/2024/05/latam3-768x432.jpg)
Milei won over 55% of the votes with 99% of the votes counted in the run-off presidential election.
Argentina's Bitcoin (BTC)-friendly Javier Milei won the country’s presidential run-off election on Nov. 19, beating out his opponent Sergio Massa.
With almost 99% of the vote counted, Milei won over 55% of the votes with a nearly 3 million vote lead according to Bloomberg data.
Massa, the country’s minister of economy, called Milei to congratulate him on the victory after more than 90% of the votes were counted — before the announcement of the first official results. Milei will take office on December 10.
Argentina's long-lasting inflation crisis has been a heated topic in the South American country, with the Argentine peso recording over a 140% increase in annual inflation in the last 12 months.
Milei has been vocal about his criticisms toward the country’s central bank, referring to it as a scam and a “mechanism by which politicians cheat the good people with inflationary tax.”
He’s referred to Bitcoin as a movement toward “the return of money to its original creator, the private sector.”
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However, he has not signaled any intention to make Bitcoin legal tender in the country.
VIVA LA LIBERTAD CARAJO pic.twitter.com/WzzzZaTcsz
— Javier Milei (@JMilei) November 19, 2023
Massa’s views on the money, banking and cryptocurrency industry appear to be polar opposite to Milei.
In October, he pledged to launch a central bank digital currency (CBDC) if elected to “solve” Argentina’s long-lasting inflation crisis.
Massa won the first round of Argentina’s presidential election in October. However, it wasn’t enough to win the presidency outright, triggering the final run-off vote.
Prior to that, Milei won Argentina’s primary election against Messi and other candidates in August.
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The group, “Bitcoin Argentina,” previously rejected the idea that regulation was needed in the cryptocurrency industry.
Non-government organization Bitcoin Argentina presented a draft bill proposing to regulate the cryptocurrency market in a way that preserves decentralization and strengthens public trust.
The proposed legal framework was pitched by Bitcoin Argentina's president Ricardo Mihura at LABITCONF 2023 in Argentina’s capital, Buenos Aires on Nov. 10. Bitcoin Argentina previously dismissed the idea that the industry needed to be regulated. However, the Bitcoin advocates now argue it is necessary to not only preserve blockchain but also hold bad actors accountable to the fullest extent of the law.
“We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of giving a positive response, with only two purposes: preserving decentralization and protecting savings and public trust.” Mihura added:
“We cannot close our eyes to the number of dishonest actors and projects that circulate with the blockchain brand.”
The first article of the legal framework focuses on separating cryptocurrency platforms and service providers into three categories to ascertain property rights — decentralized, local centralized or willing to dialogue with authorities, and global centralized.
Platforms that fall under one of the two centralized categories would be allowed to operate freely, but its customers would be granted “the broadest possible judicial protection,” guaranteeing the right to claim damages in the event of a company downfall.
It is understood that Argentina’s judiciary will not intervene on failures from decentralized platforms.
Courts will decide whether or not a cryptocurrency platform is sufficiently decentralized when resolving claims put forward by allegedly injured customers.
Related: Argentina's central bank halts cryptocurrencies from payment apps
Mihura stressed that imposing an outright ban on cryptocurrencies — which some governments have tried to do — simply wouldn’t work given the global nature of blockchain:
“Not even the United States can effectively prohibit the operation of the unlicensed cryptoeconomy [...] Argentina has no possibility of prohibiting its residents from operating in global environments [so] we believe that it does not make sense to propose a top-down ban and we choose to propose the best that the law can offer to its citizens.”
“This includes those directly responsible and all those who profit in the marketing chain of a fraud, until the final victim,” Mihura added.
Blockchain Argentina’s proposed bill comes one week ahead of Argentina’s presidential run-off election between Sergio Massa, the country’s economy minister and Javier Milei, an economist turned politician who wants to abolish Argentina’s central bank and adopt the United States dollar.
Argentina is currently battling an inflation crisis. Over the last 12 months, the country has recorded the fourth largest annual inflation rate in the world at 121.7%.
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Argentina’s capital city is teaming up with Self-Sovereign Digital Identity (SSI) protocol QuarkID to launch a digital identification service that uses the layer-2 blockchain zkSync Era. According to a press release, Buenos Aires will roll out the blockchain-based identification initiative for its 15 million residents in October. Citizens living in the city can download the […]
The post South American City of 15,000,000 To Launch Blockchain-Based Digital Identification Services appeared first on The Daily Hodl.
Fernando Pérez Algaba reportedly ran a crypto trading business in Argentina and is suspected to have been murdered by a professional outfit.
A missing cryptocurrency millionaire and Instagram influencer based in Argentina has turned up dead, with police suspecting murder after he was found dismembered in a suitcase.
According to several local media reports, crypto trader and influencer Fernando Pérez Algaba was reported missing on July 18 when he failed to return the keys to a rented apartment and answer his phone.
His remains were found less than a week later on July 23 by a group of children in the town of Ingeniero Budge, a province of the Argentinian capital.
The suitcase contained amputated legs and forearms, authorities discovered a torso on July 24 after draining the stream where the suitcase was found. A head was found in a backpack a day later on July 25.
Analysis of fingerprints and tattoos identified the body as the missing millionaire and an autopsy suggested he was shot three times before he was dismembered.
Investigators have reportedly suggested it may be the work of a professional outfit and believe the motive behind Algaba's murder was possibly debt-related. One possible suspect has already been arrested in connection to the case.
Algaba is said to have been a crypto trader in Buenos Aires where he operated an office that employed 25 other traders.
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He had also amassed a sizeable Instagram following in his time, with over 917,000 followers. Most of the content revolves around luxury cars and his beloved dog.
It was reported that Algaba had a 900,000 Argentine pesos ($3,300) debt in bounced checks, 1.2 million Argentine pesos ($4,400) owed to banks and another debt of $70,000 again related to a bounced check.
In late 2022 a spate of mysterious and sudden deaths of crypto billionaires caused wild theories in the community.
Between October and December 2022, MakerDAO co-founder Nikolai Mushegian, crypto broker Javier Biosca, Amber Group co-founder Tiantian Kullander Russian crypto billionaire Vyacheslav Taran and major Bithumb shareholder Park Mo all suffered seemingly untimely deaths.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
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