Argentina’s Foreign Affairs Minister Says “Contracts Can Be Settled in Bitcoin,” Additional Cryptocurrencies

to Follow

Argentina’s foreign affairs minister, Felipe Solá, said that the country will allow citizens to settle contracts using cryptocurrencies, including Bitcoin. He added that the government is currently studying which other digital assets will be accepted, though it is unclear what other coins might be supported.

The statement comes after the Argentine government introduced its new digital asset law, which will regulate how companies operating in the cryptocurrency space must comply with the Financial Information Unit (UIF). This allowed the country to create a framework for residents to use and purchase cryptocurrencies.

The new law will also bolster the adoption of cryptocurrencies in the country, as well as allowing companies to provide services in the space. Solá stated that “legal certainty is now assured in this field” and that “contracts can be settled in Bitcoin and other cryptos.”

Solá’s announcement is a major step in the right direction, as it shows the willingness of the Argentine government to recognize the potential of cryptocurrencies. This is in stark contrast to the stance of other Latin American countries, which are now starting to take a more open attitude towards digital assets. With Argentina leading the way, it is likely that other countries in the region will follow suit.