{"id":3112,"date":"2023-12-25T07:59:06","date_gmt":"2023-12-25T07:59:06","guid":{"rendered":"https:\/\/ethereumcode.io\/argentine-minister-btc-financial-contracts-acceptance\/"},"modified":"2023-12-25T07:59:06","modified_gmt":"2023-12-25T07:59:06","slug":"argentine-minister-btc-financial-contracts-acceptance","status":"publish","type":"post","link":"https:\/\/ethereumcode.io\/argentine-minister-btc-financial-contracts-acceptance\/","title":{"rendered":"Argentine Foreign Minister Announces BTC Acceptance for Financial Contracts"},"content":{"rendered":"
In a major development, Argentina’s Foreign Minister announced that financial commitments can now be signed with Bitcoin as a possible currency. This means that both parties engaged in a contract have the liberty to choose Bitcoin or any other mode of exchange that they prefer. Obligations will now need to be met in the currency decided upon in the contract, irrespective of whether that currency holds legal status in Argentina or not. <\/p>\n
The Argentine Foreign Minister, Diana Mondino, made it public that financial commitments can be executed in Bitcoin, opening up a new realm of possibilities. This move demonstrates President Javier Milei’s resolve to stick to his campaign assurances. Known to be a Bitcoin supporter, Milei promised significant reforms if chosen as president. His promises encompassed the introduction of the US dollar into the economy and even abolishing the central bank.<\/p>\n
However, post his taking charge on December 10th, the President has yet to fulfill his commitment to dollarization. This lack of action has led to mounting pressure from his supporters, including prominent academics, to keep his pledge. The President has chosen to decrease the value of Argentina’s national currency by more than half, instead of succumbing to these requests.<\/p>\n
Comments from the Foreign Minister suggest a clear shift in Argentina’s financial landscape as the peso is no longer the solitary legal currency. \u201cThe debtor is obliged to fulfill commitments in the currency chosen, regardless of its status in the Republic,\u201d added the minister.<\/p>\n
Milei’s government has also undertaken a series of reforms, including discontinuing subsidies on fuel and transport, reduction in the number of ministerial positions, and revamping labor laws.<\/p>\n
It is noteworthy, however, that some are criticizing these reforms, equating Argentina’s stance to that of the Central African Republic, the only African nation to validate Bitcoin as legal tender.<\/p>\n
A micro-blogging platform user named Martha Lamartha made fun of Argentina’s perceived shift towards a system of barter. \u201cHi Diana Pressioa, my companion Trisha is a specialist. I can get you an appointment for a dental check-up if you are willing to pay with five lemons, a couple of pouches, a film cassette of Karate Kid, and a replica of the monster Burako with the gaping hole,\u201d commented Lamartha.<\/p>\n