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New Argentina President Legalizes All Foreign Currencies For Payment – Including Bitcoin
The newly-elected president of Argentina, Alberto Fernández, has officially legalized all foreign currencies, including bitcoin, for payment within the country. This move is meant to give citizens greater options when it comes to making payments, mitigate the effects of economic volatility, and make it easier for both businesses and individuals to engage in cross-border transactions. The move has been seen as a signal to the international community that the world’s third-largest Latin American economy is open for business. The government has also indicated that it is willing to work with private sector partners to develop solutions that ensure that digital currencies are being used in a safe and responsible manner. Fernández’s economic team has already stepped up the efforts to attract digital currency investments, offering tax incentives to companies that commit to bringing in new technology. This, combined with the country’s already existing strong relationship with fintech companies, could signal the start of an entirely new future for the Latin American region.