BTC-Friendly Presidential Candidate Wins Argentine Election

Bitcoin-Friendly Argentina Presidential Candidate Javier Milei Wins Election

In a historic turn of events, a BTC-Friendly Presidential Candidate Wins Argentine Election, promising significant changes in the country’s economic policies. This victory has sparked excitement among cryptocurrency enthusiasts and investors, as Argentina may soon become a leading nation in the adoption and integration of digital currencies. The election results are seen as a positive step toward financial innovation and economic reform in Argentina.

Javier Milei – Argentina’s Bitcoin-friendly Presidential candidate, won the country’s presidential run-off election on Nov. 19 as his opponent Sergio Massa conceded the race with almost 99% of the votes counted. 

Notably, at that point Milei had won over 55% of the votes, giving him a nearly 3-million-vote lead. 

In the run-up to the election, Milei had addressed the country’s inflation problem by publicly voicing his criticisms toward the country’s central bank, referring to it as a scam and a “mechanism by which politicians cheat the good people with inflationary tax.” 

While he has not expressed any intention to make Bitcoin legal tender, he has previously referred to Bitcoin as a movement toward “the return of money to its original creator, the private sector.” 

Milei, whose dog is named “Milton” after the famous economist Milton Friedman, is expected to take office on December 10. 

Trading quietly through most of the weekend, bitcoin began rising late Sunday afternoon on chatter about a strong showing for Milei. Following Massa’s concession, the crypto went higher by nearly 3% to around $37,000. 

Milei is a self-described anarcho-capitalist. He has promised to eliminate the country’s central bank and dollarize the Argentine economy. The Argentine peso has been devastated by inflation which reached 142% in October. 

Earlier this year, hundreds of Argentines gathered in support of Bitcoin, forming the shape of a giant BTC symbol to protest the government’s rampant inflation plaguing the country. 

The new president has been extremely vocal about his criticisms of central banking, previously stating “The central bank is a scam, a mechanism by which politicians cheat the good people with inflationary tax.” 

He was also featured on a TV show in the past mercilessly beating a piñata of a central bank with a stick.

While the future of Bitcoin remains uncertain in Argentina at the moment, Javier Milei being sworn into office is hopefully one step closer to the country joining El Salvador in officially adopting Bitcoin as legal tender and holding it as a reserve asset. 

Santander Private Bank Introduces Bitcoin, Ethereum Trading For Clients In Switzerland

According to a CoinDesk report, Santander Private Banking International (part of Spanish financial services giant Banco Santander) is offering trading and investing services for BTC and ETH to its high-net-worth clients with Swiss accounts. The bank is also reportedly planning to increase the number of supported cryptocurrencies once they meet the bank’s screening criteria, over the next few months. 

Notably, the service will only be provided upon client request through relationship managers, and the assets will be held in a regulated custody model in which the bank itself stores the private cryptographic keys in a secure environment. John Whelan, head of crypto and digital assets at Santander, stated, 

“The Swiss regulation related to digital assets is one of the first and most advanced in the world since it provides clarity and a comprehensive regulatory environment for our clients. As holding of crypto as an alternative asset class continues to expand, we expect that our clients prefer to rely on their existing financial institutions to be responsible for their assets.” 

IUt’s a bold move given that most big banks prefer to be twiddling around with tokenization and tend to avoid exposure to open-access blockchains and the cryptocurrencies that run on them. 

Banco Santander is more than 160 years old and has 166 million customers. The private bank caters to 210,000 wealthy clients, with assets and deposits accounting for about $315 billion.

Santander Private Bank Introduces Bitcoin, Ethereum Trading For Clients In Switzerland

According to a CoinDesk report, Santander Private Banking International (part of Spanish financial services giant Banco Santander) is offering trading and investing services for BTC and ETH to its high-net-worth clients with Swiss accounts. The bank is also reportedly planning to increase the number of supported cryptocurrencies once they meet the bank’s screening criteria, over the next few months. 

Notably, the service will only be provided upon client request through relationship managers, and the assets will be held in a regulated custody model in which the bank itself stores the private cryptographic keys in a secure environment. John Whelan, head of crypto and digital assets at Santander, stated, 

“The Swiss regulation related to digital assets is one of the first and most advanced in the world since it provides clarity and a comprehensive regulatory environment for our clients. As holding of crypto as an alternative asset class continues to expand, we expect that our clients prefer to rely on their existing financial institutions to be responsible for their assets.” 

IUt’s a bold move given that most big banks prefer to be twiddling around with tokenization and tend to avoid exposure to open-access blockchains and the cryptocurrencies that run on them. 

Banco Santander is more than 160 years old and has 166 million customers. The private bank caters to 210,000 wealthy clients, with assets and deposits accounting for about $315 billion. 

Atomic Wallet Asks To Toss Suit Over $100M Hack, Saying It Has “No US Ties”

The Estonia-based company behind Atomic Wallet has reportedly filed a motion to dismiss a class action suit seeking damages from a $100-million hack before a U.S. court, stating that the class action suit should have been filed in Estonia, where it’s based, instead of the United States. 

Notably, the Estonian firm argued it has “no U.S. ties,” and its end-user license agreement required all litigation against it be filed in its home country of Estonia. 

The filing also pointed out that only one user in Colorado was allegedly affected. Further, it stated that the 5,500 allegedly affected Atomic users had agreed to its terms of service, which expressly disclaims liability for losses due to theft and limits damages to $50 per user. 

Atomic said the plaintiff’s negligence claims also lack legal merit because a legal duty was never created in which they were to maintain Atomic Wallet’s security and protect against hacking. 

“This Court has repeatedly rejected similar claims because Colorado recognizes no such duty,” it wrote. 

Allegations of fraudulent misrepresentation were also struck down by the Estonian-based wallet provider.

The recent election where a BTC-friendly candidate wins has sparked significant interest in the cryptocurrency community. This win marks a potential turning point for Argentina’s financial system, as the new president has expressed strong support for integrating digital currencies into the national economy. As the BTC-friendly candidate wins, it brings hope for increased transparency and innovation in financial regulations.

With the BTC-friendly candidate’s victory, Argentina could see an influx of foreign investment in its tech and financial sectors. The candidate’s policies aim to create a favorable environment for cryptocurrency startups and blockchain projects, positioning Argentina as a leader in digital finance. Investors are closely watching how the new administration will implement these changes and the impact they will have on the country’s economic growth.

Moreover, the BTC-friendly candidate’s win highlights a broader trend of political leaders embracing digital currencies. This shift could inspire other countries to adopt similar progressive policies, potentially accelerating the global adoption of cryptocurrencies. The success of Argentina’s new administration could serve as a model for other nations looking to modernize their financial systems and enhance economic stability through digital innovation.

As the BTC-friendly candidate wins, the focus will be on how quickly and effectively the new policies can be enacted. The administration’s ability to navigate regulatory challenges and foster a secure environment for cryptocurrency transactions will be critical to its success. Investors and stakeholders should stay informed about legislative developments and market reactions to anticipate potential opportunities and risks.

In conclusion, the BTC-friendly candidate wins the Argentine election, setting the stage for significant changes in the country’s economic landscape. This victory is a milestone for cryptocurrency advocates and could herald a new era of financial innovation in Argentina. The world will be closely monitoring the outcomes of this election and its implications for the broader cryptocurrency market.

The recent election where a BTC-friendly presidential candidate wins has generated considerable buzz in the cryptocurrency community. This win is viewed as a landmark event that could pave the way for broader cryptocurrency adoption in Argentina. The new president has expressed strong support for blockchain technology and digital currencies, suggesting that significant regulatory changes may be on the horizon.

As the BTC-friendly presidential candidate wins, investors are optimistic about the potential economic benefits. The candidate’s policies are expected to attract foreign investment, stimulate technological innovation, and create new job opportunities in the tech sector. By fostering a favorable environment for cryptocurrency and blockchain enterprises, Argentina could position itself as a hub for digital finance in Latin America.

The BTC-friendly presidential candidate’s victory also highlights a growing trend of political leaders recognizing the importance of digital currencies. This shift could influence other countries to consider more progressive financial policies. With Argentina taking the lead, there is a possibility that more nations will follow suit, integrating cryptocurrencies into their economic frameworks and embracing the benefits of decentralized finance.

Furthermore, the election results reflect a broader public acceptance of cryptocurrency as a viable alternative to traditional financial systems. The BTC-friendly presidential candidate’s campaign capitalized on the dissatisfaction with the current economic situation, offering innovative solutions through cryptocurrency adoption. As the BTC-friendly presidential candidate wins, it marks a turning point where digital currencies are seen not just as speculative assets but as tools for economic empowerment and stability.

As the new administration begins to implement its policies, it will be crucial to monitor the impacts on both the local and global cryptocurrency markets. The BTC-friendly presidential candidate’s win could lead to increased market confidence and higher adoption rates of digital currencies worldwide. Investors and stakeholders should stay informed about regulatory changes and market developments resulting from this historic election.

In conclusion, the BTC-friendly presidential candidate wins the Argentine election, heralding a new era for cryptocurrency adoption in the country. This victory is a significant milestone that underscores the transformative potential of digital currencies in modern economies. The world will be watching closely as Argentina embarks on this innovative financial journey.