The Minister of Foreign Affairs, Diana Mondino, He confirmed through his social networks that contracts can be agreed in Bitcoin. Although it did not specify whether it applies to any type of contract, everything suggests that it refers to the “free competition of currencies” that Libertad Avanza proclaimed since the electoral campaign.
“We ratify and confirm that in Argentina contracts may be agreed in Bitcoin“said the official on her X account. She quickly received more than 10,000 likes in a few minutes.
DNU on deregulation of the economy: what it says about contracts
Among all the measures that the Government took through the Decree of Necessity and Urgency (DNU) which was announced this Wednesday night and which was published this Thursday in the Official Gazette, is the modification of the Civil and Commercial Code with two objectives: on the one hand, to “reinforce the principle of contractual freedom between the parties” and, on the other, to “guarantee that the obligations contracted in foreign currency must be paid in the agreed currency”. That is, you can buy goods and contract services with dollars.
As detailed by a source to Ámbito, “the first modification mentioned seeks to privatize transactions and contracts between parties, for example, the leasing and purchase/sale operations of goods and services linked to abroad.” This is also an example of a type of contract that could also be made through Bitcoin.
From now on, the aforementioned article will establish that “The obligation is to give money if the debtor owes a certain amount of currency, determined or determinable, at the time of constitution of the obligation, whether or not it is legal tender in the country.“and that “the debtor is only released if he delivers the committed amounts in the agreed currency. “Judges cannot modify the form of payment or the currency agreed upon by the parties.”
Cryptocurrencies: a green light for the economy
A little less than a month ago, a Grayscale analysis anticipated that Javier Milei could boost the adoption of Bitcoin in the country.
“The central banks have been important contributors to the economic instability“Milei expressed, echoing the sentiments highlighted in the Grayscale analysis. He could see Bitcoin as a modern financial instrument capable of combating inflation and disrupting conventional economic paradigms.
Grayscale research emphasizes the Importance of Milei’s rise to power in a country plagued by inflation. His victory is seen as a ray of hope for Bitcoin supporters and a subset of the Argentine population who seeks alternatives to traditional financial structures.
“Bitcoin serves as a decentralized, inflation-resistant store of value that transcends national monetary policies“, the Grayscale report stated. In a nation where trust in the local currency has eroded due to economic turmoil, Milei’s election could signal a turning point in promoting greater acceptance and integration of cryptocurrencies.
“Milei’s presidency could potentially herald a new era in the way developing nations, such as Argentina, approach and incorporate digital currencies into their economic fabric,” the study predicted.
Source: Ambito
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