Argentina’s Foreign Minister Confirms Acceptance of Bitcoin for Contract Agreements

In a groundbreaking statement, Argentina’s Minister of Foreign Affairs, Diana Mondino, confirmed Argentina’s position to accept Bitcoin for contractual agreements.

Mondino’s declaration outlined the government’s willingness to accept and formalize Bitcoin-denominated contracts, heralding a pivotal moment in the legal recognition of BTC within Argentina. This move demonstrates Argentina’s progressive approach to integrating Bitcoin into the country.

“The same goes for other cryptocurrencies and/or species, such as kilograms of cows or liters of milk,” Mondino continued. “Art 766. – Obligations of the debtor. The debtor must deliver an amount equivalent to the specified currency, regardless of whether the currency is the legal tender of the Republic.”

The announcement comes a month after Javier Milei, who has made very positive comments about Bitcoin in the past, was elected as Argentina’s presidential candidate. Mailay has previously said that “central banks are a fraud, a mechanism for politicians to fool good people with inflationary taxes.” He then goes on to say that Bitcoin “is meant to give money back to its original creators, the private sector,” and that it “prevents politics from extorting it through inflation.”

The Minister’s assertion further highlights Argentina’s efforts to leverage the potential of Bitcoin to foster economic growth and innovation. The government aims to create an environment conducive to domestic investment and business development by accepting Bitcoin as a valid form of contract.

Although details regarding implementation and legal nuances have not yet been outlined, Mondino’s statement marks an important step forward in legitimizing Bitcoin as a recognized means of carrying out official agreements within Argentina. This move could also serve as a catalyst to encourage other countries to consider similar plans for integrating Bitcoin into their legal frameworks.