Argentina Greenlights Bitcoin in Legal Contracts

The Argentinian government has sanctioned the use of Bitcoin for legal contracts. This move follows the election of President Javier Milei, a known proponent of cryptocurrencies. Diana Modino, the Minister of Foreign Relations and International Commerce, declared that Bitcoin and other cryptocurrencies are now recognized as legitimate currencies for contractual purposes in Argentina.

Modino highlighted the adaptability of Argentine contracts, noting they can be pegged to various value measures, including traditional ones like beef weight or milk volume. She pointed to a pre-existing law to support this decision.

Though Modino didn’t specify future cryptocurrency policies, this recognition of Bitcoin is in line with President Milei’s overall financial strategy. This is significant in the context of Argentina’s struggles with hyperinflation and the devaluation of its local currency.

source