23 January 2021
Local government politicians has come up with a measure that if passed, people will see a province in the country launch a crypto trading platform.
The brain behind this proposal is Roque Gervasoni, a provincial deputy (council member) of the northern Misiones province. He has created a crypto bill which will be debated by the provincial assembly.
The bill proposes the launch of a state-backed crypto exchange platform, a private “public limited company” that is "decentralized” but has “majority state” ownership.
As per Gervasoni, the exchange will be no regular one, it will also function as a repository, allowing customers to hold their crypto in safety. Citizens can pay their taxes here as well as buy goods and services using digital tokens. It will also provide funds to grow new startups.
The exchange also has a unique twist where citizens depositing their money or tokens on the platform would be required to refrain from accessing them for 90 days or face additional charges for early withdrawals.
Gervasoni’s aim to go beyond the local level, too. He stated that the platform would not only be for Misiones residents but also all Argentines would be allowed to make use of the platform. Residents who are overseas can also avail of it but would have to follow the 90-day rule – and would be obliged to go through an additional registration process.