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‘Crypto President’ Javier Milei Scores Shock Midterm Win: What’s Next for Crypto in Argentina?

Argentine President Javier Milei’s pro-crypto social gathering, La Libertad Avanza, has scored a shock victory in the nation’s midterm elections, strengthening his management in Congress and reigniting debate over Argentina’s future financial course and its deepening embrace of digital property.

According to native outlet La Nación, Milei’s social gathering secured 40.68% of the nationwide vote, successful key areas together with Buenos Aires province, lengthy thought of a Peronist stronghold.

The consequence marks a serious turnaround from September’s provincial elections, when the Peronists had defeated Milei’s candidates by a large margin.

Source: La Libertad Avanza

With greater than 99% of votes counted, La Libertad Avanza has tripled its illustration in Congress, now holding 101 seats in the decrease home, up from 37, and 20 in the Senate, in comparison with six beforehand.

The victory cements Milei’s affect forward of the October 2027 presidential election, positioning him as soon as once more because the frontrunner.

How Milei’s Midterm Win Redefines Argentina’s Future

Speaking to supporters after the win, Milei called the consequence a “turning level” and declared that Argentina had “left decadence behind and opted for progress.”

The legislative win additionally eases investor fears that Milei’s market overhaul might stall.

Argentine property rallied following the outcomes, with the peso posting positive aspects in crypto buying and selling markets on Sunday.

Investors see the strengthened place in Congress as essential for pushing by means of Milei’s austerity and tax reform agenda, which has been met with each reward and protest at house.

Since taking workplace in December 2023, Milei, a former economist, has centered on deregulation, fiscal tightening, and decreasing state intervention.

Inflation, which had soared to just about 290% in April 2024, has fallen dramatically underneath his administration, dropping to 31.8% in September 2025.

Source: Trading Economics

While these measures have helped stabilize the peso, they’ve additionally led to greater dwelling prices, unemployment, and lowered subsidies on necessities like electrical energy and transport.

Milei’s pro-crypto insurance policies stay a defining characteristic of his presidency. In December 2023, Argentina legalized the usage of Bitcoin and different cryptocurrencies in personal contracts, marking a serious step in formalizing crypto transactions.

The following yr, his authorities introduced comprehensive regulations for Virtual Asset Service Providers (VASPs), requiring registration with the National Securities Commission (CNV) and compliance with anti-money laundering and cybersecurity requirements.

Under the brand new framework, cryptocurrencies are legally acknowledged for transactions however don’t maintain authorized tender standing.

The CNV has additionally authorized trading of U.S. exchange-traded funds (ETFs), together with Bitcoin and Ethereum spot ETFs, by means of Argentina’s CEDEAR program, ending a six-year prohibition.

Argentina’s Crypto Boom Overshadowed by Milei’s LIBRA Controversy

Argentina’s rising openness to crypto has made it one of the energetic markets in Latin America.

A 2025 report by Chainalysis ranked the country 20th globally for crypto adoption and second regionally behind Brazil, with $93.9 billion in transaction quantity between mid-2023 and mid-2024.

Source: Chainalysis

Stablecoins, particularly USD-pegged property like Tether’s USDT, account for over 60% of crypto transactions, reflecting the general public’s ongoing efforts to hedge towards inflation.

Despite these milestones, Milei’s relationship with the crypto sector has been clouded by controversy.

Earlier this yr, the president was embroiled in the LIBRA token scandal after mentioning the undertaking in an X submit, which led to a 94% price collapse within hours.

The token’s market capitalization had briefly surged to $4.6 billion earlier than crashing, prompting allegations of market manipulation and insider buying and selling. Although Argentina’s anti-corruption watchdog later cleared Milei of wrongdoing, public belief took a success.

Polling agency Zuban Córdoba reported that Milei’s approval ranking fell from 47.3% in November to 41.6% in March following the incident, with current information exhibiting that over 63% of Argentines now view him negatively.

Nonetheless, Milei insists he merely “unfold the phrase” in regards to the undertaking and denies any intent to promote it.

Following the scandal, the federal government dissolved the investigative process power probing the incident, citing completion of its mandate.

The transfer drew criticism from opposition lawmakers, who accused Milei of making an attempt to bury the controversy.

Milei Pushes Forward with Crypto Liberalization as Argentina Deepens Global Ties

Even with lingering doubts about his credibility, Milei continues to champion a liberalized foreign money coverage.

In June 2024, he publicly endorsed an “open market” system that might enable Bitcoin to compete freely alongside the Argentine peso.

His stance aligns with that of former Foreign Affairs Minister Diana Mondino, who confirmed that crypto-based contracts have been legally acknowledged underneath Milei’s deregulation decree.

Argentina’s collaboration with El Salvador additional reveals its dedication to creating a digital asset ecosystem.

In December 2024, each nations signed a mutual cooperation settlement to strengthen regulatory frameworks and share blockchain experience.

The momentum has attracted main worldwide gamers. Coinbase secured VASP registration in early 2025, granting it full regulatory approval to develop native operations and combine peso cost strategies.

Exchange Bybit also entered the Argentine market in August 2024, reflecting the nation’s rising enchantment as a regional crypto hub.

The submit ‘Crypto President’ Javier Milei Scores Shock Midterm Win: What’s Next for Crypto in Argentina? appeared first on Cryptonews.

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