Milei had some radical ideas, and some of them are being implemented. But as of May 2024, Argentina's Central Bank is still operating. The solution of dollarization and Central Bank abolition is still being discussed, but it wasn't implemented. It's not impossible to make it work, and it might be a good idea for Argentina, considering decades of poor financial policies, but it doesn't mean this decision is without risks. In the meantime, Milei restricted public spending and said that Argentina had a first budget surplus in more than a decade.
I can't help but think that instead of Milei to accept dollarization, why not opt to join BRICS countries and use the Yen?
It sure would have been a better idea, while good policies will be enacted to help the Argentine Central Bank play the right role in nation building and macroeconomics.
Had it been it could work out well for crypto currency development in the country, I would have seen it to be a better alternative or rather, pair, with the Argentine currency, so as to further lessen the burden on the central banks to perform.