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In Argentina, a politician wants to build a state-backed cryptocurrency exchange



A local government politician in Argentina has introduced a measure that, if passed, could cause a province in the country to launch a cryptocurrency trading platform.

The measure is the creation of Roque Gervasoni, a provincial deputy (councilor) of the northern province of Misiones, who has drawn up a bill that will be debated in the provincial assembly.

The bill proposes the launch of a state-backed cryptocurrency exchange platform, a private “stock company” that is “decentralized” but has “majority state” ownership.

And the platform would not be a regular exchange; Also, Gervasoni wrote, it would function as a repository, allowing clients to keep their cryptocurrencies securely. And it would allow citizens to pay their taxes (presumably in cryptocurrencies), as well as buy goods and services using digital tokens.

The platform also, he wrote, could serve as a fund to help foster startups.

However, the plan also involves a rather unique twist: citizens who deposit their money or tokens on the platform will have to refrain from accessing them for a period of 90 days, or they will face additional charges for early withdrawals.

Gervasoni's plans also go beyond the local sphere. He wrote that not only the inhabitants of Misiones, but also all Argentines could make use of the platform. Residents abroad could also use it, he added, but they would also have to comply with the 90-day rule and would be required to go through an additional registration process.

The deputy is a member of the Frente para la Renovación de la Concordia party, the dominant political party in the province of Misiones.


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