In a groundbreaking statement, the Minister of Foreign Affairs of Argentina, Diana Mondino, has confirmed the country's stance on adopting bitcoin for contractual agreements.
Mondino's statement outlined the government's willingness to accept and formalize contracts denominated in bitcoin, heralding a crucial moment for the legal recognition of btc within Argentina. The move demonstrates Argentina's progressive approach towards bitcoin integration 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 amount corresponding to the designated currency, whether or not it is legal tender in the Republic.”
This announcement comes 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 deceive good people with inflationary taxes.” He then says that bitcoin “represents the return of money to its original creator, the private sector,” and that it “prevents politicians from ripping you off through inflation.”
The Minister's statement further underlines Argentina's efforts to harness 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 a conducive environment for investment and business development within the country.
While details regarding implementation and legal nuances are yet to be outlined, Mondino's statement marks a crucial step towards legitimizing bitcoin as a recognized means of carrying out formal agreements within Argentina. The move may also serve as a catalyst, encouraging other nations to consider similar initiatives to integrate bitcoin into their legal frameworks.
