Milei Disappoints Some Crypto Supporters with New Argentina VASP Registry Law

Argentina implemented a Registry of Virtual Asset Service Providers (VASP), requiring registration for crypto platforms and traders. This disappointed some who hoped Argentina would be more crypto-friendly like El Salvador.

The new law is having immediate effect, with payment app Strike stopping its Send Globally feature between Argentina and the U.S.

President Javier Milei, a libertarian who previously praised crypto, has disappointed some Bitcoin supporters by allowing this law to move forward.

The law aims to increase access to foreign investment, though some view it as Milei's "first major mistake."

Milei came to power amid high inflation and has had success trimming Argentina's government, with monthly inflation falling from 25.5% to 13.2% in recent months.