President Javier Milei recently advocated for maintaining a separation between cryptocurrency and state control.
Speaking at “Meta Day Argentina,” an event held at the Palacio Libertad Domingo Faustino Sarmiento, Milei criticized central bank digital currencies (CBDCs) and advocated for the private management of cryptocurrencies, warning against government overreach.
Opposition to CBDCs and State Control
In his speech, the president declared, “Do not let the state take over and carry out the cryptocurrencies.” Milei believes that private cryptocurrencies offer a trusted alternative to state-issued currencies and have emerged in response to public dissatisfaction with seigniorage payments—profits derived by governments from issuing currency.
He described digital assets as a revolutionary means of dismantling the state’s monopoly on money, thereby empowering individuals with greater economic independence. Furthermore, he elaborated that technological progress, including innovations within the cryptocurrency space, serves as an important solution to problems caused by centralized systems.
Milei also rejected the concept of CBDCs, labeling them as tools that could increase state control over financial systems. “They have already appropriated paper money and are scamming us with central banks,” the president said.
Overall, he was advocating for virtual assets to remain privately managed to maintain their original purpose as a trusted alternative to state-issued currencies. According to him, if the government is in charge of cryptocurrencies, “they will turn us into slaves.”
His comments align with his libertarian philosophy, which aims to reduce state influence across sectors. His administration’s “Chainsaw Model” focuses on privatization and deregulation, targeting non-essential industries.
Recently, he revealed that this model is being considered for implementation in the United States. According to Milei, SpaceX CEO Elon Musk and Argentina’s Minister of De-Regulation and State Transformation Federico Sturzenegger are collaborating to replicate its principles.
Trump’s Crypto Ambitions and Global Context
These remarks come as U.S. President-elect Donald Trump advances an ambitious cryptocurrency agenda following his re-election.
Trump has pledged to make the United States a global crypto hub. Throughout his campaign, he made several promises to the people that are in line with this.
His plans include firing SEC Chair Gary Gensler, creating a Bitcoin reserve, and expanding Bitcoin mining operations in the country.
Trump’s administration is reportedly already consulting with industry leaders to develop a pro-crypto regulatory framework. Additionally, his team is considering multiple pro-crypto candidates for key roles within various financial regulatory bodies.
Such initiatives are expected to position the United States as a central player in the cryptocurrency landscape worldwide.
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