Apr 2, 06:18 AM

Argentina Enforces Mandatory Crypto Registry Amid Regulation Concerns

Argentina has introduced a mandatory registry for Bitcoin and cryptocurrency platforms, as announced by the country's securities regulator. This move, detailed in @Forbes with comments from @manuferraritano and @bourbonni, aims to enhance oversight of the crypto industry, amid concerns about the potential for increased regulation under the government of @JMilei. The registry is part of a broader trend towards the regulation of digital assets, with users reporting that they can no longer use Bitcoin to pay contractors via Lightning Network. This is attributed to custodial apps like Strike ceasing BTC transfers in response to the new registration regulations. The initiative has sparked debate within the crypto community, with some viewing it as a necessary step for consumer protection, while others criticize it as a hindrance to the industry's growth, stating 'It's a terrible idea to have a registry that enables the buying and selling Bitcoin...'.