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Argentine President and Bitcoin enthusiast Milei announced plans to abolish taxes on Bitcoin transactions below $100,000.
In fact, since Milei took office as President of Argentina, his outspoken personality and advocacy for classical liberalism, along with his wise alignment with the Bitcoin audience, have earned him countless applause and cheers both domestically and internationally.
Even Elon Musk praised him for his speech at the Davos Forum on January 18th. However, some superficial performances do not mean that his governance in Argentina has been smooth sailing. According to incomplete statistics, since Milei took office as president, he has dismissed 50,000 government employees and lifted regulations on legal currency laws. He has even made Argentina more crypto-friendly. And today's topic, abolishing taxes on Bitcoin.
The issue Milei raised is about past undeclared profits, which is a form of amnesty, with the benefit being that those below $100,000 won't have to pay taxes.
"Canceling Bitcoin taxation" is a big event for the Bitcoin audience, but for Milei, compromises and concessions are necessary. Why? Milei was elected president at the end of 2023, but his victory was only partial because he won in the second round of elections and became president. However, in the first round of elections, the opposition, the Ugandan People's Alliance, performed better than him. Therefore, he found himself having to govern in a parliament where the majority did not support him or even wanted to oppose him. Governing in such circumstances seems to be quite challenging.
Milei currently does not have a majority in the Argentine parliament. Implementing any policy he proposes would be quite difficult. |
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Post time 18-2-2024 15:32:12