Diana Mondino, Minister of Foreign Affairs and International Trade of Argentina, said yesterday in her X profile that in Argentina contracts can be agreed in #Bitcoin $BTC .
Mondino indicated that any other #criptomoneda $ETH or species may also be agreed upon, such as kilos of steer or liters of milk.
"The debtor must deliver the corresponding amount of the designated currency, whether the currency is legal tender in the Republic or not," he said.
Argentina, according to one of the latest Chainalysis reports, is one of the Latin American countries where cryptocurrencies are most used.
In the Global Cryptocurrency Adoption Index, #Argentina ranks number 15. Between June and July 2023, Argentina led Latin America in gross cryptocurrency transaction volume, with an estimated $85.4 billion.
Alfonso Martel Seward, head of AML at the Argentine cryptocurrency exchange Lemon Cash, believes that the main driver of cryptocurrency adoption in the country is to escape the devaluation of the Argentine peso.
Likewise, the Chainalysis report attributes high cryptocurrency adoption rates in Argentina to economic problems and extreme currency devaluation cycles that harm residents' ability to save.
Latin America and cryptocurrencies
Javier #Milei , current president of Argentina, has always been in favor of the free circulation of coins. That is, Argentine citizens can freely use any currency to carry out their transactions, both in the private and public spheres.
The previous government of Argentina published a few months ago a "Practical guide for the identification, traceability and seizure of cryptoassets."
A guide that, according to the words of the Milei government minister, will have to be updated shortly. Argentina's acceptance of bitcoin for trading underlines the importance of cryptocurrencies in the region.
As we reported a few days ago in Blockchain Observatory, more and more citizens of Latin American countries use cryptocurrencies because they are useful for their daily lives.
Source: Observatorioblockchain.com