Milei will pay the consequences for not understanding bitcoin

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Key facts:
  • For Keiser, the regulation of exchanges in Argentina is a mistake.

  • In Argentina, bitcoin exchanges must register with the CNV to operate.

“Javier Milei made his first big mistake and will pay the consequences.” In this way, the maximalist bitcoiner Max Keizer questioned that the Argentine government has decided to regulate bitcoin (BTC) and cryptocurrency exchanges based on the guidelines of the Financial Action Task Force (FATF).

Via X (formerly Twitter), Keizer, who is part of the National Bitcoin Office of El Salvador, questioned that Argentine President Milei have not taken the time to “understand Bitcoin”.

A few days ago, the National Securities Commission (CNV) of Argentina opened registration for virtual asset service providers. Exchange houses, wallets, payment gateways and related entities must register there, which also become regulated and supervised by that body.

The CNV’s authority to regulate exchanges was granted after the modification of the Money Laundering Law, where four new articles were included aimed at supervising the emerging ecosystem in that country.

The modification was a consequence of the pressure exerted by the FATF on Argentina, considering that this organization has been evaluating that nation since last year and, if they do not comply with its recommendationsthey run the risk of entering the gray list or the black listwhich would lead to difficulties in their international economic relations.

The bitcoiner maximalist criticized the Milei government’s decision. Source: X.

The authority granted to the CNV has been the cause of protest and criticism in the bitcoin community. There are even those who allege that Milei “handed them over” and they urge you to withdraw funds from local exchanges.

According to lawyer Ana Ojeda, executive director of the legal firm Legal Rock, due to the new regulations, now exchanges and companies “will have a closer look” at the CNV, which will mean greater scrutiny for users.

It happens that, in accordance with the FATF’s own guidelines, the CNV Argentina will have the power to request relevant information from users to exchanges and related companies. Among these data, their names, surnames stand out and up to their dates of birth (if required).

However, in Argentina bitcoin and cryptocurrency companies already have been obliged to report their operations to the country’s authoritiesas well as providing data about its users, such as identities, transactions and addresses.

Whatever the case, for maximalist bitcoiner Max Keiser, Now Javier Milei “will pay the consequences” to allow the regulation of bitcoin and cryptocurrency exchanges in accordance with FATF guidelines.

El Salvador also has a bitcoin company registry

Max Keiser’s criticism of Javier Milei’s government in Argentina due to the creation of a bitcoin company registry reminds us that El Salvador It has had a similar policy and for several months.

In general, the Central Reserve Bank of El Salvador, the first country in the world to legally adopt bitcoin, keeps a registry of exchanges and other cryptocurrency service providers that operate in that Central American nation.

The same exists in the National Digital Assets Commission, which has a registry of companies in the cryptocurrency ecosystem that currently operate in El Salvador.

Supplier registration is something that is subject to the laws of El Salvador and, in fact, is a prior step for any company in the bitcoin sector. can begin activities on Salvadoran soil.

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