Crypto Leaders in Argentina Want Radical President to Dismiss FATF Travel Rules
As Javier Milei assumes leadership in Argentina, the cryptocurrency community is already voicing expectations for swift changes in the country’s economic trajectory.
In a publication on December 10 by Cryptonoticias, the Bitcoin community outlined three specific requests directed towards the Javier Milei-led government.
Camilo Jorajuría, Vice President of the NGO Bitcoin Argentina, presented the first set of requests, emphasizing the importance of respecting people’s privacy.
Additionally, he expressed the hope that the new Argentine government would permit individuals to pay for goods and services with any currency accepted by the general populace.
Emphasizing the call for privacy, Jorajuría highlighted Milei’s affiliation with Bitcoin and his reputation as a liberal leader and defender of freedom. He urged Milei to legally support a market that operates outside the “draconian measures of the Financial Action Task Force.”
The Financial Action Task Force (FATF) points to a set of financial standards popularly called the “Travel Rule.”
This rule mandates crypto or virtual asset service providers (VASPs) to record the identities of both the sender and receiver of digital asset funds, even at the expense of their privacy.
Jorajuría also drew attention to the positive steps taken by fellow American nation El Salvador in adopting Bitcoin and establishing itself as a crypto and blockchain hub. He encouraged Milei to consider similar initiatives for Argentina.
The FATF Travel Rule received worldwide attention following the United Kingdom’s enforcement announcement on September 1, 2023.
According to the UK government, the standards are expected to tackle issues around terrorism financing and anti-money laundering (AML) rules.
The Travel
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