7 months ago
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Max Keiser, advisor to El Salvador President Nayib Bukele on Bitcoin (BTC) matters, has called out Argentina’s president Javier Milei for his crypto stance, calling his economic plan a “rookie mistake.”
Javier Milei, who secured the Argentine presidential seat last December, has introduced aggressive economic policies to rescue the country’s collapsing economy and battle the consistent devaluation of the Argentine peso, which is down 99% against the U.S. dollar since 2008.
While Milei’s affinity to Bitcoin has received commendation from the broader crypto community, his stance on Bitcoin and cryptocurrency appears to be unsettling certain Bitcoin proponents. In a recent post, Max Keiser condemned Milei for conflating Bitcoin and cryptocurrencies.
.@JMilei is making rookie mistake lumping #Bitcoin in with “Crypto”
This sets his agenda back by years.
Pres. @nayibbukele understands #Bitcoin on a deep level and never made this mistake & passed laws clearly stipulating that everything not BTC is an unregistered security.
Notably, Bitcoin maximalists such as Keiser believe that Bitcoin is not a part of the crypto ecosystem, contributing to the hostility toward Milei’s unspoken opposing stance. This stance was evidenced in the country’s recent economic policy on cryptocurrencies.
As crypto.news reported on April 2, the Comisión Nacional de Valores, Argentina’s securities regulator, recently introduced a regulation mandating the compulsory registration of all entities regarded as Virtual Assets Services Providers operating in the country.
The new legislation affects all entities providing and receiving crypto-related services such as buying, selling, trading, receiving or sending crypto tokens. With the law also encompassing Bitcoin activities, individuals such as Keiser have condemned the development.
According to Keiser, the Argentine president’s decision to lump Bitcoin with crypto is a “rookie mistake.” He contended that the recent legislation, which identified Bitcoin as part of the crypto ecosystem, has set Milei’s economic reform agenda back by years.
Keiser argued that El Salvador’s president Bukele has a more profound understanding of the Bitcoin agenda than Milei. For context, El Salvador introduced its digital asset issuance legislation last January, which encompasses services related to all digital assets except Bitcoin. Bitfinex secured the first license of operation under the law last April.
The Central American country has unapologetically leaned toward Bitcoin, establishing itself as the first country to make the asset legal tender in 2021. In contrast, despite the failing peso, Milei has yet to adopt this stance. Instead, the Libertarian has hinted at dollarizing the Argentine economy.
