U.S. Lawmakers Visit Argentina to Study Crypto Regulation and Discuss Adoption

A group of U.S. lawmakers traveled to Argentina and met with President Javier Milei and local crypto organizations to examine how the local ecosystem operates. The visit aimed to discuss regulation and identify joint challenges related to stablecoin adoption.

Argentina, known for its citizens’ embrace of crypto to counter devaluation and inflation, hosted a delegation led by French Hill, Chairman of the House Financial Services Committee. Representatives Don Davis, Warren Davidson, Janelle Bynum, Troy Downing, and Tim Moore were also part of the trip.

During their meeting with President Milei on Monday, lawmakers aimed to explain the Genius and Clarity Act while gaining insight into the ecosystem, its players, and key challenges. They expressed no interest in specific crypto companies but focused on understanding the local market dynamics.

The group also engaged with the Argentine Fintech Chamber and Lemon, one of the largest exchanges in Argentina. Discussions included current challenges, regulatory advances, and the opportunities to build frameworks for industry growth. A significant topic was the tax treatment of digital assets and how stablecoins fit within that framework. Local media reported concerns regarding who bears the tax burden: users or companies.

Lemon is advocating for an upgrade in the tax treatment of crypto assets as Congress prepares for a comprehensive regulation overhaul.

Read more: Industry Stakeholders Cautious as Argentina Drafts New Crypto Regulations