CBCC improves tax collection – Argentine Central Bank employee
Juan Agustin D'Atelis Nogueira, Director of the Central Bank of the Republic of Argentina, has officially supported the Minister of Economy, Sergio Massa, promoting the Central Bank Digital Currency (CBCC) as a solution for the national economy.
Speaking on local television, Nogueira expressed his belief that the “digital peso” could help stabilize Argentina's economy as early as 2024. According to the official, the key feature of CBCC is that it helps the government to collect taxes.
Detecting operations in digital currency because it is not known who is doing it, but there is evidence that they have been carried out, broadens the tax base. This allows you to lower taxes without increasing them.
The unstable Argentine peso often competes with the US dollar as a means of payment, so a CBDC could help solve the country's financial crisis, Nogueira said.
Related: Buenos Aires to issue blockchain-based digital identity
Nogueira spoke very clearly about the digital peso, confirming that the CBCC will gradually introduce it, co-exist with cash and be completely replaced by paper fiat currency in the final stages of the project.
On October 2, Massa, who is a presidential candidate, promised to launch a CBDC if elected to “solve” Argentina's long-term inflationary crisis. According to polls, Massa narrowly trails pro-Bitcoin (BTC) and anti-central bank candidate Javier Millais, who wants to adopt the US dollar as Argentina's currency.
