Although Argentine President Javier Milei introduced a tax-free deposit bill to attract capital back into the country, due to a severe trust crisis, the people of the country still hoard nearly 170 billion USD in cash outside the banking system, and the new bill has attracted less than 1 billion USD in dollar deposits. It is reported that this is related to the 2001 crisis in Argentina, when the government forcibly converted dollar deposits and limited withdrawals. Due to the lukewarm response to the policy, Milei has recently withdrawn his core campaign promises to abolish the central bank and achieve economic dollarization. (Bitcoin com)