Argentina’s Economic Miracle: Milei Achieves Lowest Inflation in Five Years
Argentina is experiencing an economic revival thanks to the libertarian policies of President Javier Milei. According to numbers from the National Institute of Statistics and Census (INDEC), the monthly inflation index corresponding to May fell to 1.5%, lower than expected.
This figure is seen as a milestone for the Milei Administration, which managed to contain it without price controls or having a band flotation system for the U.S. dollar. Per INDEC’s statistics, this is the lowest index achieved since May 2020, when the country was hit by the COVID-19 pandemic and demand for goods and services was limited.
Milei’s economic team celebrated this development, referencing the policies that made this possible. Milei’s spokesperson, Manuel Adorni, stressed that this could be possible following the basics of what must be done in high-inflationary episodes.
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Brazil’s Congress up in Arms Against ‘Flawed’ Cryptocurrency Tax Decree
Cryptocurrency taxation is becoming a hot topic in Brazil, where it has become a central element in a legislative battle in Congress. Deputy Gustavo Gayer, from a party opposing Lula’s coalition, introduced a law project that would roll back the changes made by President Lula’s government on crypto taxation, under the premise of their alleged illegality.
The project, a Legislative Decree Project to Suspend Normative Acts of the Executive Branch, seeks to nullify the end of the tax exemption for small cryptocurrency holders enacted in Provisional Measure 1,303. The measure establishes a flat fee of 17.5% as income tax for all crypto holders without exception.
Gayer argues that the executive branch is overstepping its jurisdiction with this decree, as Congress would be the only organization capable of changing taxes.
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Argentina has taken a bold step, blocking access to the HTX cryptocurrency exchange at a nationwide level. A cybercrime specialized prosecutor’s office in San Isidro has ordered the blockage of the exchange, which is headquartered in Seychelles and has Chinese origins, due to its refusal to collaborate in a pig-butchering scheme probe.
The landmark decision comes as the exchange is neither registered in the country nor has it delivered the necessary documentation to the national securities regulator to operate as a virtual asset service provider (VASP).
The investigation dates back to 2022, when the victim of the scheme lost $13,000 as a third party took advantage of him to force him to send these funds to a third-party address. The address used to receive the funds was linked to HTX and, according to local media, was also receiving cryptocurrency from other investment schemes.
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