RE: Unlike Nigeria, Argentina plans to fight fiat inflation by accepting crypto

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Unlike Nigeria, Argentina plans to fight fiat inflation by accepting crypto

in hive-175254 •  3 years ago 

Unfortunately, this is not embracing the cryptocurrencies’ possibilities for development, but an attempt to increase the collecting of taxes, as around forty percent of the economy is done in the informal realm (imagine that there are more than 160 taxes considering the three levels of the state, national, provincial, and departments) and a law like this might be an incentive for some people to move into the formal realm (unlikely). Point is, this is not done in the spirit if protecting salaries but, quite the opposite, in the spirit of increasing the number of people paying the whole of the existing taxes and to be able to put new ones on them in the future. And it would not be surprising if this is also a first step towards creating a mandatory national cryptocurrency with which to keep causing inflation with something more difficult to escape from than paper money

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