An interesting proposal has emerged to promote Argentina as a crypto capital: the tokenization of local assets to generate value, as well as the reduction of taxes in cryptocurrencies and the facilitation of the creation of new tokenized companies, according to Lemon.
The president of Argentina, Javier Milei, launched a token called $Libra, following the example of Donald Trump, who introduced his own cryptocurrency with great success. In a short time, the total capitalization of $Libra reached $6 billion.
This private project aims to boost economic growth in Argentina by providing financial support to small businesses and local ventures. Nevertheless, some experts warn of possible scams and advise caution.
The legitimacy of the project was confirmed by the private sector and Casa Rosada, clarifying that the message about the token was published by the president himself, and it was not a hack of his social media accounts.
"The Viva La Libertad Project has as its main objective to promote the Argentine economy by providing financial backing to small local initiatives," express the creators of the token on their newly launched website which includes a contact email for inquiries.
Following the announcement, bonds and stocks in Argentina experienced a bounce, generating investment interest among analysts. The CEO of Kip Network Inc., Julián Kip, met with Milei in 2024 to develop the project's website.
The cryptocurrency community reacted with surprise and skepticism on social media to the launch of the token. The distribution of 70% of the token supply from two wallets raised doubts among investors, despite its price experiencing a significant increase after the presidential endorsement.
