Your problem is failing to understand that the Argentinian government can regulate crypto just as it regulates USD.

All real estate in Argentina is sold via USD as hundred dollar notes in a brief case. Entire businesses exist to facilitate these transactions. I don’t think you understand what a basket case this country and its government is.

I'm always baffled by people that think the way that laws are written must be the way things operate. Taxes in BA are above 100% of profits. On paper it's illegal to make money. Yet businesses exist. Some peoples' minds may explode.

And I'm always baffled by people who fail to understand arguments. If a country can't regulate currency, USD is far superior to crypto. If a country can, neither works.

The reason why they can enforce the regulations on USD is because you're either bringing physical cash across the border - which can then be intercepted by the customs - or you're doing a wire transfer to some local bank, which said bank will then duly report to the government.

They can certainly pass equivalent regulations on BTC. Good luck enforcing them, though.

You enforce exactly the same way — at conversion to local currency. If you hold US currency abroad, there is nothing Argentina can do about it.

Conversion to local currency happens on the black markets. And BTC so exchanged just flows back out of the country.

Same with USD held abroad.

How do you get USD held abroad into the country, short of physically smuggling cash past the customs with all the danger that entails? A bank wire or something like Western Union is within the regulatory framework and will get you reported.

How would that work?

And I sure think Changpeng Zhao is full of policy proposals for Argentina. His first one: you should headquarter all companies in Lithuania.