In a groundbreaking statement, Argentine Foreign Minister Diana Mondino reiterated the country's position on embracing Bitcoin in contractual agreements.
The Mondino announcement made clear the government's desire to accept and formalize Bitcoin-denominated contracts, heralding a pivotal moment for the legal recognition of Bitcoin within Argentina. This move demonstrates Argentina's progressive approach towards integrating Bitcoin in the country.
“And also any cryptocurrencies and/or other types such as kilos of beef or liters of milk,” Mondino continued. “Article 766. – Obligation of the debtor. The debtor must deliver the corresponding amount in the specified currency, whether the currency is legal tender in the Republic or not.”
The announcement comes a month after Javier Miley, who has made very positive comments about Bitcoin in the past, won the presidential nomination in Argentina. “The central bank is a scam, a mechanism by which politicians cheat good people with inflationary taxes,” Miley previously stated. Then there is the statement that Bitcoin “represents the return of money to its original creator, the private sector,” and that it “prevents politicians from robbing you through inflation.”
The Minister's confirmation also underscores Argentina's efforts to leverage Bitcoin's potential to stimulate economic growth and innovation. By accepting Bitcoin as a valid form of contractual agreement, the government aims to foster an enabling environment for investment and business development within the country.
While implementation details and legal nuances still need to be clarified, Mondino's statement represents a decisive step forward in legitimizing Bitcoin as a recognized means of conducting formal agreements within Argentina. The move may also act as an incentive, encouraging other countries to consider similar initiatives in incorporating Bitcoin into their legal frameworks.
