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Official: Contacts in Argentina Can be Settled in Bitcoin

21 Dec, 2023 Crypto News

Official: Contacts in Argentina Can be Settled in Bitcoin

The Argentine minister of foreign affairs, international trade, and worship, Diana Mondino, has asserted that Bitcoin would be covered by a decree that permits the use of specific currencies in agreements and payments.

Mondino stated in a post on X on December 21 that the use of Bitcoin and other cryptocurrencies in the nation would be permitted under specific circumstances, according to a decree that appeared to be intended at economic reform and deregulation.

The Dec. 20 decree known as "Bases for the Reconstruction of the Argentine Economy" included provisions allowing debtors to choose to make payments in currencies that were not accepted as legal tender in Argentina, but it did not mention cryptocurrency specifically.

“We ratify and confirm that in Argentina contracts can be settled in Bitcoin,” stated Mondino. “And also any other crypto.”

Mondino claimed that the decree would also permit contracts to be settled in steers or liters of milk.

Other clauses in the decree allow people to select the currency they want to use; these clauses mostly relate to foreign currencies without explicitly denying cryptocurrencies.

“The parties have the liberty to specify the amounts and the type of currency used for the bond or security deposit, as well as the method for its reimbursement upon the lease’s conclusion,” stated Article 1196 of the decree.

After Mondino defeated then-finance minister Sergio Massa in the election, Argentine President Javier Milei named him as the foreign minister.

Many in the industry viewed Milei's victory as encouraging for Argentina's adoption of cryptocurrencies.

Milei assumed office in the face of widespread and severe inflation. His first national speech was followed by an economic decree outlining steps to address some of Argentina's economic issues. After it was passed, the president tweeted, "Long live f---ing freedom."

The Argentine president once referred to Bitcoin as a movement toward “the return of money to its original creator, the private sector.” Since securing presidency, he has not spoken publicly about digital assets.

Sources:

https://cointelegraph.com/news/argentina-contracts-settled-bitcoin

https://www.libertaddigital.com/documentos/el-decreto-historico-de-milei-para-derogar-300-leyes-7081774.html

https://twitter.com/dianamondino/status/1737874320322424984

https://twitter.com/JMilei/status/1737833269914452271

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