Argentina crypto group plans to set up a blockchain valley in Buenos Aires

The crypto coterie in Argentina plans to set up a blockchain valley in Buenos Aires as a part of its Crecimiento movement, with a following of 500 individuals.

The coterie consists of all the eminent players within the country’s ecosystem. Some of these notable figures include Diego Guitérrez, who co-founded Bitcoin Layer 2 Rootstock; Marcelo Cavazzoli, who is both the CEO and co-founder of Lemon Cash, a leading crypto purchasing app in Latin America; and Elian Alvarez, who is a general partner at Ripio Ventures. 

Above all else, Crecimiento’s core team has the support of advisors to the country’s new libertarian president, Javier Milei.

The Crecimiento movement intends to set up a hub for crypto, as well as founders of technology oriented businesses in the capital, and provide them with a three-dimensional plan. It intends to rope in 5 to 10 million people on-chain by offering exclusive items, increasing the country’s tech-related startups, and backing them wherever necessary. 

The group’s mission is to work in tandem with Argentina’s newly crypto-friendly government to support the cryptocurrency sector through initiatives like tax rebates, industry investment, and simplified regulations.

During the campaign, President Milei emphasized the advantages of Bitcoin and associated it with a sense of freedom; however, no formal statements have been released regarding the matter. Nevertheless, the coterie has been actively collaborating with the relevant officials to establish their crypto center in Buenos Aires.

According to Maria Milagros Santamaria, a lawyer for Web3, the regulators are expressing a high level of positivity toward them and are requesting specific proposals regarding the crypto subject in order to proceed. In her view, there are a small number of people who are truly opposed to the proposal, but thankfully, their numbers are few.