New Minister Announces Argentina’s Willingness to Embrace Bitcoin for Official Contracts
Argentina’s government has given its approval for Bitcoin to be used in contractual agreements, marking a significant development in the country’s stance on cryptocurrencies. The decision comes after the election of President Javier Milei, who has been vocal about his support for digital currencies. Diana Modino, Argentina’s Minister of Foreign Relations and International Commerce, made the announcement on X, stating that Bitcoin, along with other cryptocurrencies, can now be considered a valid form of currency in legal contracts within the country.
Modino highlighted the flexibility of contractual agreements in Argentina, emphasizing that they can be based on various units of value, including traditional ones such as kilos of beef or liters of milk. She referenced an existing law to reinforce the legal foundation for this decision.
Although Modino did not provide specific details about future cryptocurrency policies, this recognition of Bitcoin is in line with President Milei’s broader monetary strategy. This strategy is particularly relevant in light of the ongoing challenges faced by Argentina, including hyperinflation and the devaluation of the local currency.
In other news, a malicious script in Google and X has resulted in the theft of $58 million worth of cryptocurrencies from over 63,000 users. The incident serves as a reminder of the vulnerabilities in the digital currency space and the importance of robust security measures.
Additionally, Terraform Labs and the SEC have reached an agreement on confidentiality terms as their trial approaches. This development indicates progress in the ongoing legal dispute between the two parties and sets the stage for the upcoming trial.
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