Argentina’s Central Bank Shares Plans to Develop Regulatory Framework for Digital Peso

The government of Argentina has officially begun exploring the idea of launching a digital currency (CBDC).

The country’s central bank aims to modernize the payment infrastructure by incorporating a CBDC.

The central bank plans to have a pilot version of the digital peso ready as early as 2024.

Last week, the head of the central bank, Juan Agustin D’Attellis Noguera, revealed that work has begun on establishing regulations for a CBDC.

The government also believes that it is necessary to have legislation in place to regulate transactions involving digital tokens before launching the digital peso.

Argentina’s Economy Minister Sergio Massa has proposed expediting the process of creating a regulatory framework. Massa is currently running for president and has expressed his readiness to take on the position if elected.

In October, Massa declared that if elected, he would prioritize the launch of a digital peso at the soonest possible time.