Argentina’s Foreign Affairs Minister Says “Contracts Can Be Settled in Bitcoin,” Additional Cryptocurrencies
Argentina’s Minister of Foreign Affairs, Diana Mondino, has announced that the South American country will allow contracts to be agreed upon in cryptocurrency.
“We ratify and confirm that in Argentina contracts can be agreed in Bitcoin,” Mondino posted to X on Thursday.
“And also any other kind of crypto and/or species such as kilos of steer or liters of milk,” Mondino stated in a reply to her original post.
However, Mondino failed to provide additional details in regards to the news of crypto-friendly contracts.
Mondino’s statement comes shortly after newly-elected Argentinian President Javier Milei devalued the country’s currency by more than 50% as part of his larger plan to provide “economic shock therapy” to the nation as it struggles through a troubling financial crisis.
On Wednesday night, Milei announced the “Bases for Reconstruction of the Argentine Economy” decree that included over 300 measures for deregulating the nation’s economy. The decree would, in part, privatize a number of state-owned companies and strike down a number of regulations regarding housing, land ownership, and more.
“The objective is to return freedom and autonomy to individuals and start dismantling the enormous amount of regulations that have impeded, hindered, and stopped economic growth,” Milei said in a broadcast statement.
Following the announcement of the decree, thousands of Argentinians took to the streets of Bueno Aires to protest the economic reforms.
The November election of pro-crypto Milei, who is a self-identified “anarcho-capitalist” and previously spoke of “burning down” Argentina’s central bank, briefly caused the price of bitcoin to surge.
However, Milei’s supporters argue that his stance on cryptocurrency may offer the country
