After the recent lifting of the currency controls that Argentines had to deal with for six years, the use of stablecoins, which had been very popular in the country, is under scrutiny. While some believe that Argentines will prefer regular dollars, local analysts sustain that the popularity of stablecoins will continue to be high, as they present interesting possibilities.

Marcos Zocaro, a local crypto tax consultant, believes that fees will be one of the relevant aspects that will continue to power the use of stablecoins in Argentina. “This is because, for example, fees are much lower for international payments and transfers than going to banks, and it is much faster and easier,” he stressed.

In addition, Ivan Bole, a fintech attorney, stated that privacy and the ability to stay out of the eye of tax agencies will continue to be relevant to the popularity of stablecoins. “These people prefer or definitely want to receive payments in an informal economy or outside the tax authorities’ radar. I don’t see them changing their behavior because of this,” Bole assessed.

Bole also calls into question the interconnection of the Argentine system with the wider financial system, explaining that stablecoins will continue to be the go-to tool for onramping money to foreign exchanges. “To put it bluntly: no one can deposit blue pesos on a foreign exchange. They’ll continue to use dollars, which are ultimately converted into dollar stablecoins. Again, USDT or USDC,” Bole explained.

The lifting of currency controls came as President Javier Milei’s administration closed a deal to receive a $20 billion credit line from the International Monetary Fund (IMF) last week, which would defend the national fiat currency and open the country to foreign investment.

Read more: Argentine Stablecoin Markets Soar After Announcement Ending Currency Controls

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。