In a groundbreaking statement, Argentina’s Minister of Foreign Affairs, Diana Mondino, has confirmed the country’s stance on embracing Bitcoin for contractual agreements.
Mondino’s declaration outlined the government’s willingness to accept and formalize contracts denominated in Bitcoin, heralding a pivotal moment for legal recognition of BTC within Argentina. The move demonstrates Argentina’s progressive approach towards integrating Bitcoin in the country.
“And also any other crypto and/or species such as kilos of steer or liters of milk,” Mondino continued. “Art 766. – Obligation of the debtor. The debtor must deliver the corresponding amount of the designated currency, whether the currency is legal tender in the Republic or not.”
This announcement arrives a month after Javier Milei, who has made very positive comments about Bitcoin in the past, won Argentina’s presidential candidacy. Milei has previously stated, “The central bank is a scam, a mechanism by which politicians cheat the good people with inflationary tax.” Then saying Bitcoin “represents the return of money to its original creator, the private sector,” and that “it prevents politicians from robbing you through inflation.”
The Minister’s assertion further underlines Argentina’s efforts to leverage the potential of Bitcoin to stimulate economic growth and innovation. By accepting Bitcoin as a valid form of contractual agreement, the government aims to foster an environment conducive to investment and business development within the country.
While the details regarding the implementation and legal nuances remain to be outlined, Mondino’s statement marks a crucial step forward in legitimizing Bitcoin as a recognized means of conducting formal agreements within Argentina. The move may also serve as a catalyst, encouraging other nations to consider similar initiatives in integrating Bitcoin into their legal frameworks.