IMF tries to attack crypto

in #crypto5 months ago

Argentina has secured a $45 billion bailout from the IMF, but it comes with an anti-crypto clause.

Here's the detail:

The clause was included in a letter of intent signed by Economy Minister Martín Guzmán and central bank president Miguel Pesce on March 3. It detailed Argentina’s efforts “to discourage the use of cryptocurrencies with a view to preventing money laundering, informality, and disintermediation” in order to “to further safeguard financial stability.”

Of course Argentinians arn't using cryptocurrencies because they are money-launderers or criminals. They're using crypto to protect their savings from Argentinian inflation of 102.5% per annum.

If they could protect their savings by holding gold or US dollars, they'd do that. But they cannot obtain either. So they're using bitcoin. What's wrong with that?

Since when is hedging against inflation a crime?