Bitcoin advocate Max Keiser slams Javier Milei’s crypto policy

Max Keiser, who serves as an Bitcoin (BTC) consultant to El Salvador President Nayib Bukele, has criticized Argentine President Javier Milei’s cryptocurrency policy, labeling it a “newcomer blunder.”

Javier Milei, newly elected Argentine president in December, has implemented bold economic measures in an attempt to revive the ailing economy and combat persistent depreciation of the Argentine peso, which has lost approximately 99% of its value against the U.S. dollar since 2008.

Milei’s strong support for Bitcoin has been praised by the larger crypto community. However, some dedicated Bitcoin supporters have expressed unease with his views on Bitcoin and digital currencies. In a recent article, Max Keiser criticized Milei for lumping Bitcoin and cryptocurrencies together.

.@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.— Max Keiser (@maxkeiser) April 2, 2024

Significantly, some Bitcoin maximalists like Keiser argue that Bitcoin isn’t truly a part of the crypto community, which may fuel their resistance to Milei’s seemingly differing perspective. This perspective was reflected in the nation’s latest cryptocurrency regulations.

According to a report by crypto.news on April 2, Argentina’s securities commission, the Comisión Nacional de Valores, has implemented a new rule requiring any business considered a Virtual Asset Service Provider to register with them before conducting operations within the country.

The recently passed law applies to any entity involved in the exchange of crypto assets, including purchasing, selling, trading, and transferring crypto tokens. Since this legislation covers Bitcoin transactions as well, critics like Keiser have expressed their disapproval.

In his opinion, Keiser considers Argentine President’s classification of Bitcoin as crypto a beginner’s error. He argued that this new law, recognizing Bitcoin as a part of cryptocurrencies, significantly delayed Milei’s economic reformation plan for several years.

Keiser stated that Bukele, El Salvador’s president, has a deeper grasp of Bitcoin’s goals than Milei. To clarify, El Salvador passed legislation for digital asset issuance in January, excluding Bitcoin-related services. Bitfinex obtained the first license to operate under this law in April.

A Central American nation has boldly embraced Bitcoin, becoming the world’s first country to legally recognize it as tender in 2021. On the other hand, Milei, struggling with a weak peso, has not followed this path. Instead, there have been suggestions from the Libertarian government about dollarizing Argentina’s economy.

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2024-04-03 12:36