Argentina’s foreign minister says contracts can be settled in Bitcoin

As the cryptocurrency industry proliferates worldwide, its assets are becoming increasingly accepted into mainstream use, and recently, Argentina’s foreign minister has confirmed that the country’s new government has legalized the use of Bitcoin (BTC) for contractual agreements.

Indeed, Diana Mondino, the minister of foreign affairs, international trade, and worship of Argentina, was referring to a decree legitimizing the use of specific assets in contracts and for payments, stating it would also apply to Bitcoin, as she explained in an X post published on December 21.

As she said in her next post, this decree also refers to the use of “any other crypto and/or commodity, such as kilograms of beef or liters of milk,” adding an article from the decree aimed at economic reform and deregulation that further explains the matter:

“Article 766. – Debtor’s obligation. The debtor must deliver the corresponding quantity of the designated currency, whether the currency is legal tender in the Republic or not.”

Pro-Bitcoin stance

Cryptocurrency

Bitcoin transaction fees at yearly highs; What’s next for BTC?

Cryptocurrency

Bitcoin soars to 10-day high; Will BTC hit $50k by end of 2023?

Cryptocurrency

Bitcoin completes 'perfect retest' of this key level

Cryptocurrency

Here’s how much the most profitable Bitcoin mining company lost in a year

Cryptocurrency

Bitcoin likely to test $50K before spot ETF approval

It is worth noting that the announcement aligns with the focus of the new administration headed by the newly elected president of Argentina, Javier Milei, who has won the election against the former minister of economy, Sergio Massa, during whose tenure Argentina saw severe inflation.

As a reminder, the self-described anarcho-capitalist Milei is a Bitcoin supporter and has said that the maiden cryptocurrency “represents the return of money to its original creator, the private sector,” although he has not yet offered specific plans to make it legal tender.

On top of that, he is also a staunch opponent of the central banks, as he has argued that the “central bank is a scam, a mechanism by which politicians cheat the good people with inflationary tax” and promised to get rid of this institution, in addition to ending politicians’ privileges.

Interestingly, the new Argentinan president has even received support from the CEO of Tesla (NASDAQ: TSLA) and another Bitcoin enthusiast, Elon Musk, who has predicted a period of prosperity for the country following Milei’s win, as Finbold reported in late November.

Meanwhile, Bitcoin was at press time changing hands at the price of $43,708, up 0.04% on the day, as well as gaining 2.11% across the week, and advancing 19.58% on its monthly chart, according to the latest information retrieved on December 22.

Comments

Post a Comment

Popular posts from this blog

Tron rising as Rebel Satoshi’s Early Bird presale phase sells out

Rebel Satoshi presale ongoing.  Supporters bullish on RBLZ  TRON could soar to $0.2 in 2024. Tron (TRX) is on a tear, but some analysts are still skeptical. Amid this, Rebel Satoshi (RBLZ), a new crypto project, has caught the attention of investors. Rebel Satoshi draws investors Rebel Satoshi has been attracting investors with its unique blend of a meme coin and a movement focused on reshaping the crypto landscape.  As investors seek alternatives to underperforming assets, they are drawn to Rebel Satoshi’s narrative and Features . At the heart of Rebel Satoshi lies RBLZ, a governance and membership token. You might also like: Analysts focus on Rebel Satoshi, Shiba Inu, and Zcash ahead of crypto bull run Holding RBLZ grants a stake in the movement and provides access to quests, rewards, and a community dedicated to shaping a fully decentralized crypto future. The early stages of Rebel Satoshi’s public presale have seen over 10 million tokens sold within just 48 ho
Read more

Rebase Tokens: What Are They & How Do They Work?

Image
If you're interested in cryptocurrency, you've probably noticed that the price of many digital assets can be highly volatile. This can make it challenging to use cryptocurrency as a means of exchange or as a store of value. Rebase tokens, also known as elastic tokens, seek to offer a solution to this problem.  In this article, we'll explore what rebase tokens are, how they work, and whether or not they might be a good investment for you.  What Are Rebase/Elastic Tokens? Rebase tokens are a type of cryptocurrency that adjusts their supply to maintain price stability. This is in contrast to traditional cryptocurrencies, which have a fixed supply determined at the time of their creation. Rebase tokens achieve price stability through a process known as a "rebase," which is triggered at regular intervals (e.g., every 24 hours). During a rebase, the supply of the token is adjusted based on a predetermined formula.  For example, if the demand for a re
Read more

Lloyds Bank issues urgent warning of crypto scams in the UK

Image
A recent press release issued by Britain’s Lloyds Bank shares that crypto scams that have surged 23% over the course of the year. Young investors between the ages of 25 and 34 years old are said to be the most prevalent target for these attacks. Social media home base The press release goes on to report victims of crypto investment scams are facing an average loss of £10,741, marking an increase from the previous year’s £7,010.  Additional data goes on to state that 66% of all investment scams originate on social media platforms, with Instagram and Facebook emerging as the primary sources. You might also like: Kraken helps UK police in recovering $2m in stolen crypto Crypto investors were then said to make an average of three payments before realizing they were involved in a scam, meaning that it would often take 100 days from the date of the first transaction before a report was issued to the bank. Unfortunately, by the time it was, Lloyds shares that the money is ty
Read more