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

Press Releases Crypto News Cointelegraph ‘In Argentina, contracts can be settled in Bitcoin’ — Foreign minister

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.”

Y también cualquier otra cripto y/o especie como kilos de novillo o litros de leche.

Art 766. – Obligación del deudor. El deudor debe entregar la cantidad correspondiente de la moneda designada, tanto si la moneda tiene curso legal en la República como si no lo tiene.

— Diana Mondino (@DianaMondino) December 21, 2023

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.

“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.

Argentine President Javier Milei

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Author: Turner Wright

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