Javier Milei is the President of Argentina and a high profile libertarian economist whose monetary views and deregulatory agenda have made him a closely watched political figure in crypto markets. Since taking office on December 10, 2023, Milei has pursued sweeping economic reforms aimed at reducing inflation, shrinking the state, and loosening controls that have historically pushed Argentines toward alternative stores of value. In the crypto ecosystem, he is most often associated with rhetoric supportive of currency competition and a more permissive stance toward private use of assets such as Bitcoin, alongside a parallel push to formalize oversight of crypto service providers through anti money laundering and market conduct rules.
Overview
Milei rose from academia and economic consulting into mass media, becoming known for combative television debates and outspoken criticism of central banking. His presidency has centered on fiscal adjustment, deregulation, and attempts to normalize Argentina’s macro framework after years of high inflation and distorted exchange rate regimes. For crypto users and businesses, the key relevance is less about a single “Bitcoin policy” and more about how broader reforms change incentives for saving, payments, capital flows, and compliance expectations for exchanges, brokers, and custodians operating in Argentina.
History and Background
Before entering politics, Milei built a public profile as an economist influenced by the Austrian school of economics and as an author and commentator on Argentina’s inflationary history. He was elected to Argentina’s Chamber of Deputies in 2021 and later won the presidency in November 2023. Milei’s political platform emphasized rapid spending cuts, market liberalization, and a reduced role for state intervention, themes that overlap with narratives popular among some crypto communities.
Crypto and Monetary Views
Milei’s public comments have often framed inflation as a political problem linked to discretionary money creation and have criticized central banks as institutions that erode purchasing power. In crypto discourse, these positions are frequently interpreted as aligned with hard cap monetary systems and voluntary adoption of private monies. While Argentina has not designated crypto as legal tender, Milei’s broader “currency competition” framing has been viewed as supportive of voluntary use of digital assets in private transactions where counterparties agree.
In practice, Argentina’s crypto usage has been strongly shaped by domestic conditions: persistent inflation, dollar scarcity, and the popularity of stablecoins for savings and settlement. This has helped sustain demand for dollar linked assets such as USDT and USDC, regardless of whether the government explicitly promotes crypto adoption.
Policy Signals and Regulatory Environment
Under Milei’s administration, Argentina combined deregulatory messaging with a clearer compliance perimeter for crypto intermediaries. In 2024, Argentina updated its anti money laundering framework in ways that explicitly incorporated virtual asset service providers, placing crypto exchanges and related intermediaries under heightened reporting and registration expectations. The National Securities Commission (CNV) implemented a VASP registry and defined regulated activities such as fiat to crypto exchange, crypto to crypto exchange, transfers, and custody services.
In 2025, subsequent CNV rules expanded operational requirements for registered firms, including expectations around customer asset segregation, governance, and compliance controls. This approach reflects a common regulatory compromise: permitting the use of crypto assets in the market while tightening standards for centralized businesses that act as gateways between traditional finance and on chain activity.
Use Cases and Market Position
Argentina is one of the most active crypto markets in Latin America, with retail adoption driven by everyday financial needs as much as speculation. Common use cases include:
- Saving in dollar linked stablecoins as an alternative to holding pesos.
- Cross border payments and remittances routed through exchanges and stablecoin rails.
- Merchant acceptance and informal settlement where counterparties agree on the payment asset.
- Access to global markets for freelancers and small businesses managing currency mismatch.
Milei’s influence on these use cases is indirect but material: macro stabilization efforts, changes to currency controls, and the direction of financial regulation can either reduce the urgency for crypto hedges or increase the attractiveness of regulated on ramps and custody services.
Notable Milestones
- December 2021: Entered national politics as a member of the Chamber of Deputies.
- November 2023: Won Argentina’s presidential election; assumed office on December 10, 2023.
- 2024: AML related reforms and CNV implementation of a mandatory VASP registry for regulated crypto activities.
- 2025: Expanded CNV requirements for VASPs, increasing compliance expectations for exchanges and custodians.
Risks and Considerations
For crypto market participants, the main risks around Milei’s Argentina are execution risk and policy volatility. Economic reforms can shift quickly in response to inflation, reserves, or political constraints, which affects capital controls, taxation, and banking access for crypto firms. A second consideration is regulatory tightening for centralized intermediaries, which can raise barriers to entry and increase compliance costs even if self custody and peer to peer usage remain broadly accessible.
Milei has also faced periods of public scrutiny connected to crypto related controversies, highlighting reputational and consumer protection challenges in fast moving token markets. Crypto businesses operating in Argentina must balance demand for open access with robust disclosures, strong custody practices, and AML controls in line with the CNV’s evolving framework.
