‘In Argentina, contracts can be settled in Bitcoin’ — Foreign minister

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‘In Argentina, contracts can be settled in Bitcoin’ — Foreign minister
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Diana Mondino, the minister of foreign affairs, international trade and worship of Argentina, has claimed that a decree legalizing the use of certain currencies in contracts and for payments would apply to Bitcoin (BTC).

In a Dec. 21 post on X (formerly Twitter), Mondino said that a decree seemingly aimed at economic reform and deregulation would allow the use of BTC and other cryptocurrencies in the country under certain conditions. The “Bases for the Reconstruction of the Argentine Economy” decree, passed on Dec. 20, did not specifically mention crypto but included provisions that debtors had the choice to pay in currencies not recognized as legal tender in Argentina.

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

According to Mondino, the decree would also allow for settling contracts using liters of milk or steers. Other provisions within the decree give individuals the freedom to choose the type of currency used — largely referring to foreign currencies but not explicitly denying crypto.

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“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,” said Article 1196 of the decree.

Related: Who is Javier Milei, Argentina’s market-friendly president?

Argentine President Javier Milei appointed Mondino as the foreign minister following his election victory against then-finance minister Sergio Massa. Many in the space saw Milei’s win as a positive sign for crypto adoption in Argentina.

Milei came into power amid pressing inflation across the country. The economic decree followed his first national address, detailing measures to address some of Argentina’s economic concerns. The president tweeted, “Long live f—ing freedom,” in reference to its passage.

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

Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips



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