Alberto Fernandez does not rule out cryptocurrencies despite being a "careful" issue

Key facts:
  • Fernández argued that cryptoassets could be a good solution to inflation.

  • However, he acknowledged that he did not understand how they work and perceived some risks in the system.

Argentina’s president, Alberto Fernandez, assured in an interview that “the discussion about cryptocurrencies is global” and that these constitute “a matter of care”. However, he did not rule out that it could be a positive development: “Maybe it’s a good way”.

In an interview with the YouTube program Caja Negra

, of the Filo News portal, the Argentine president admitted his lack of knowledge about the functioning of cryptoassets and referred to the insecurity that they entail, according to his vision. However, he also remarked the advantage that they allow to fight inflation, an economic evil that has affected his country for decades.

Speaking to journalist Julio Leiva, Fernandez said that “the discussion on the operation of cryptocurrencies is not only Argentina, is a global debate. And I must confess that it is a matter of care, in my case, because of the unknown and because one does not understand exactly how this fortune is materialized”.

In relation to this doubt, the Argentine president said that this lack of knowledge is shared by “many in the world,” and said that is why “the project or the system has not yet expanded.

Despite this, Fernandez left the door open to take advantage of the benefits of cryptocurrencies for the economy. One of them, in his opinion, is that “the inflationary effect is annulled”, while he believes that “somehow, it is a hard currency”.

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Regarding the “insecurity” he perceives in the world of cryptoassets, Fernandez said that “embezzlements and scams have already been verified with the use of cryptocurrencies”. For that reason, he stressed his position that this issue should be approached “with care” and said he prefers not to delve too deeply “because it mixes the economic with the technological and transparency with the non-transparent”.

The president of Argentina, Alberto Fernandez, gave his opinion on cryptocurrencies in an interview.

Because of that, the official considered that this “is a topic to consider, because 20 years ago nobody thought that YouTube was going to be what it is” and that “we should not refuse, maybe it is a good way”.

As reported by CriptoNoticias, Fernandez has already expressed to his close friends his approval to debate laws that regulate cryptocurrencies in Argentina. This was stated by the national deputy José Luis Ramón, who presented a bill for the collection of salaries in cryptocurrencies and said that the president himself gave the go-ahead

for its treatment in Congress.

Technology, information and the state

In addition to referring to cryptocurrencies, Fernández touched on another important topic: technology.

I think it’s right that the state should use it as a tool to get to know the population better. “Everything that has to do with bankarization and with the State knowing more about the population seems to me to be correct. The issue is not the information, but how it is used. Putting society in the system or online is good.”

Fernandez also spoke about the role of technology to obtain relevant information for the State.

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In that sense, he added: “That technology serves to know about everyone is very important in every sense. Because maybe it lets me know that Juan is having a bad time and needs help from the state or that Pedro is cheating us and is not paying his taxes.