A top official in Argentina says the South American country will recognize contracts denominated in Bitcoin (BTC).
According to Argentine Minister of Foreign Affairs, International Trade and Worship Diana Mondina, the law sanctioning the settlement of obligations in non-legal tender applies to the flagship cryptocurrency and other digital assets.
“We ratify and confirm that contracts can be agreed in Bitcoin in Argentina.
And also any other crypto and/or species such as kilos of bull or liters of milk.
Art 766. – Obligation of the debtor. The debtor must deliver the corresponding amount of the designated currency, regardless of whether the currency is legal tender in the Republic or not.”
Mondina’s statement comes amid speculation that South America’s second-largest country could follow in El Salvador’s footsteps by making Bitcoin legal tender following Javier Milei’s victory in Argentina’s presidential election.
Milei, who is known for his pro-Bitcoin stance, has said the top crypto asset represents “the return of money to its original creator, the private sector.”
Crypto asset manager Grayscale says Milei’s presidency marks a meaningful step toward crypto adoption.
“His presidency could pave the way for greater adoption and integration of cryptocurrencies into the Argentine economy, providing a potential solution to the long-standing problems of inflation and financial instability. Milei’s victory could represent a paradigm shift in the way developing economies like Argentina perceive and use digital currencies.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on TweetFacebook and Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
