Juan Agustín D'Attellis Noguera, governor of the Central Bank of Argentina, publicly backed Economy Minister Sergio Massa, who supports the promotion of central bank digital currency (CBDC) as a solution to the country's economy.
Commenting on local television, D'Attellis stated that he believes the "digital peso" (PAD) can stabilize the Argentine economy in 2024. According to the official view, the main feature of CBDC is its traceability, which will help the government collect taxes:
“Thanks to the traceability of transactions, you expand the tax base because there is evidence that it was done with digital currency, even if it is not known who did it. This allows you to generate more revenue without increasing or even lowering taxes.”
PAD will also help solve the country's monetary problem created by the unstable local currency, the peso, which competes with the US dollar even as a method of payment.
D'Attellis spoke very precisely about the "digital peso" - the head of the Central Bank stated that CBDC will be gradually introduced along with cash, and the final replacement of the paper bill will occur at the final stage of the project.
On October 2, incumbent Economy Minister and presidential candidate Sergio Massa pledged to launch a CBDC if elected to "solve" Argentina's long-running inflation crisis. According to polling polls, Massa is just behind pro-Bitcoin and anti-central bank candidate Javier Milei, who wants Argentina to adopt the United States dollar as its currency.
Commenting on local television, D'Attellis stated that he believes the "digital peso" (PAD) can stabilize the Argentine economy in 2024. According to the official view, the main feature of CBDC is its traceability, which will help the government collect taxes:
“Thanks to the traceability of transactions, you expand the tax base because there is evidence that it was done with digital currency, even if it is not known who did it. This allows you to generate more revenue without increasing or even lowering taxes.”
PAD will also help solve the country's monetary problem created by the unstable local currency, the peso, which competes with the US dollar even as a method of payment.
D'Attellis spoke very precisely about the "digital peso" - the head of the Central Bank stated that CBDC will be gradually introduced along with cash, and the final replacement of the paper bill will occur at the final stage of the project.
On October 2, incumbent Economy Minister and presidential candidate Sergio Massa pledged to launch a CBDC if elected to "solve" Argentina's long-running inflation crisis. According to polling polls, Massa is just behind pro-Bitcoin and anti-central bank candidate Javier Milei, who wants Argentina to adopt the United States dollar as its currency.