The Central Bank of Argentina will introduce digital peso payment ‘as soon as possible’
After making a series of comments about the importance of the Central Bank Digital Currency (CBCC) to the national economy, the Central Bank of the Republic of Argentina has been able to accelerate its work on the law to implement the work process of the CDCC in the country.
October 18, during a public discussion on the Filo news channel, the director of the Central Bank of Argentina, Juan Agustin de Atelis Nogueira, stated that the Central Bank is working on the legislative framework of the digital peso CBCC project recently proposed by the Minister of Economy. Presidential candidate Sergio Massa.
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According to Noguera, the project will be introduced as soon as possible to the Congreso de la Nación Argentina – the country's parliament. The official praised Massa's approach to the CBCC, implicitly criticizing the position of another presidential candidate, Bitcoin-friendly Javier Milei, who has been publicly announcing the “dollarization” of Argentina's economy.
It's not the first time Nogueira has stepped in to defend the CBCC proposal. At the beginning of October, he expressed his belief that the digital peso will help stabilize the Argentine economy by 2024. According to the official, the key feature of the CBDC is the ability to monitor the government's ability to collect taxes.
On October 2, Massa committed to introducing a digital peso if he wins the election, aiming to solve Argentina's chronic inflation problem. According to recent polls, Massa is behind Javier Millay, who opposes the central bank's role in the economy and supports adopting the US dollar as Argentina's official currency.
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