The Brazilian businessman explains that the use of USDT does not require approval from the US government.
USDT, issued by Tether, is the most popular “crypto dollar” in the world.
Rocelo Lopes, founder of the SmartPay payment platform, argued that Argentina could benefit more from a “tetherization” of the economy than from traditional dollarization.
The term “tetherization” refers to the incorporation of USDTthe stablecoin issued by the Tether company, as a means of payment. This token is the “crypto dollar” most used in exchanges and P2P markets, as CriptoNoticias explained.
According to Lopes, if a “tetherized” scheme were implemented, it would be possible to take advantage of the advantages of dollarization in a simpler and more efficient way.
In addition, it would allow for quick and economical operations, with traceability of funds, avoiding the costs and logistics associated with handling physical bills. On the other hand, dollarization would require the approval of the United States government, explains the Brazilian businessman.
In dialogue with the IproUp site, Lopes clarified that, to achieve this “tetherization”, Argentina must improve its regulatory framework. «I think there is a lack of better regulation, such as greater integration of the financial ecosystem with that of cryptocurrencies. For example, for a person to operate USDT and at the same time have a global dollar account with which they can carry out operations of all kinds.
Lopes focuses on the need for the regulatory framework to evolve so that users can safely and efficiently integrate currencies, such as USDT, into the financial system.
It is worth clarifying that USDT has established itself as one of the main refuges for Argentines to protect their savings against the devaluation of the peso, taking advantage of the stability offered by this stablecoin linked to the US dollar.
It is worth remembering Lopes’ statements, while issues such as labor and tax reforms, along with dollarization, were once again part of the agenda.
One of the most notable proposals of Javier Milei’s campaign was the dollarization of Argentina and the closure of the Central Bank (BCRA), ideas promoted by his then advisor, the economist Emilio Ocampo. So far, there has been no concrete progress towards the implementation of this measure.