Work on Bitcoin Contract Settlement in Argentina

 

Work on Bitcoin 

Contract Settlement in Argentina

Diana Mundino, Argentina's Minister for Foreign Affairs and International Trade

announced that a decree had been issued giving legitimacy to the use of

 certain currencies in the settlement of contracts and payments

which is expected to include bitcoin (BTC).

In a tweet posted by Mundino on December 21 on the platform 

"X" (previously Twitter)

The new decree aims at economic reform and deregulation

and will allow the use of bitcoin and other cryptocurrencies in

 the country in special circumstances.

Cryptocurrencies

 were not specifically mentioned in the decree "Foundations

 for the Reconstruction of the Argentine Economy"

issued on 20 December,

Includes clauses that allow debtors the option to

 pay using currencies not recognized as legal currency in Argentina.

Mondino stated:

 "We confirm with confidence that in Argentina contracts

can be settled using bitcoin and any other cryptocurrency." 

According to Mundino's statements, the decree will also allow

 for the settlement of contracts

In addition

other provisions in the decree include the freedom of individuals

 to choose the type of currency used

which refers to foreign currency in particular

 without explicitly denying cryptocurrencies.

Article 1196 of the Decree states that "Parties shall be free to determine

 the amounts and type of currency used in the bond or security deposit

as well as the method of payment at the end of the lease".

Following his election victory over former Finance Minister Sergio Massa

 Argentine President Javier Milly Mundino was appointed Foreign Minister.

Milley's victory in space was seen as a positive signal towards

 the adoption of cryptocurrencies in Argentina.

Milley knows that 

he took office under the country's enlargement. 

The economic decree followed his first national address

which explained the economic measures necessary to address some of 

Argentina's economic concerns.

The President tweeted: "Lived... freedom "

referring to the passage of the decree.

He also referred to bitcoin as a movement seeking to 

"return money to the originator, the private sector.

However

since taking office, he has not spoken publicly about digital assets.