- Argentina seeks insights on El Salvador’s Bitcoin adoption and legal framework.
- Bukele shares his crime-reduction strategies, stressing country-specific security measures.
- Bitcoin is seen as a long-term investment, potentially surpassing the U.S. dollar.
El Salvador’s President Nayib Bukele visited Argentina’s Congress to engage in discussions with Vice President Victoria Villarruel. The meeting aimed to explore El Salvador’s approach to Bitcoin and how Argentina might apply those insights to its security and economic policies.
During the discussion, Vice President Villarruel expressed interest in learning about El Salvador’s journey with Bitcoin. Since El Salvador adopted Bitcoin as an official currency alongside the U.S. dollar, Argentina has been weighing similar moves.
Villarruel sought more information on how Bukele’s government established its legal framework for cryptocurrency, specifically focusing on Bitcoin’s integration into the financial system.
The conversation also covered El Salvador’s experiment with Bitcoin, including the use of volcano bonds. Villarruel wanted to understand the economic and legal implications of such initiatives.
Read also: El Salvador Ditches External Debt, Embraces Bitcoin Future
Bukele described Bitcoin as a long-term investment, suggesting it could potentially outperform the U.S. dollar in terms of utility and market presence.
El Salvador’s Crime Reduction Efforts
Beyond the economic focus, security was a major point of interest. While at the Blue Room in the Legislative Palace, Bukele faced questions from senators about the tough security measures his administration implemented to reduce crime in El Salvador.
A key area of discussion centered on Bukele’s approach to combating gang violence, a significant issue in the country.
Bukele outlined how his government’s legal measures empowered police and military forces to effectively target gang activities. He noted that this strategy gained widespread public support, with Salvadoran families backing the approach. He pointed out that, before these efforts, gangs controlled around 85% of the country.
Read also: Government Bitcoin Rankings: US Tops List, Bhutan and El Salvador Active
He further stressed that security policies must be tailored to the unique conditions of each country.
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