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Well the solution certainly doesn’t involve the government considering a century of destructive policies
by monero-xmr 4y ago
Well the solution certainly doesn’t involve the government considering a century of destructive policies
- lern_too_spel 4y agoYour problem is failing to understand that the Argentinian government can regulate crypto just as it regulates USD.
- monero-xmr 4y agoAll real estate in Argentina is sold via USD as hundred dollar notes in a brief case. Entire businesses exist to facilitate these transactions. I don’t think you understand what a basket case this country and its government is.
- notch656c 4y agoI'm always baffled by people that think the way that laws are written must be the way things operate. Taxes in BA are above 100% of profits. On paper it's illegal to make money. Yet businesses exist. Some peoples' minds may explode.
- lern_too_spel 4y agoAnd I'm always baffled by people who fail to understand arguments. If a country can't regulate currency, USD is far superior to crypto. If a country can, neither works.
- int_19h 4y agoThe reason why they can enforce the regulations on USD is because you're either bringing physical cash across the border - which can then be intercepted by the customs - or you're doing a wire transfer to some local bank, which said bank will then duly report to the government. They can certainly pass equivalent regulations on BTC. Good luck enforcing them, though.
- lern_too_spel 4y agoYou enforce exactly the same way — at conversion to local currency. If you hold US currency abroad, there is nothing Argentina can do about it.
- int_19h 4y agoConversion to local currency happens on the black markets. And BTC so exchanged just flows back out of the country.
- lern_too_spel 4y agoSame with USD held abroad.
- int_19h 4y agoHow do you get USD held abroad into the country, short of physically smuggling cash past the customs with all the danger that entails? A bank wire or something like Western Union is within the regulatory framework and will get you reported.
- throw123123123 4y agoHow would that work?
- xwolfi 4y agoAnd I sure think Changpeng Zhao is full of policy proposals for Argentina. His first one: you should headquarter all companies in Lithuania.