Argentina Expands Legal Contracts to Include Crypto and Select Commodities
The Argentine government has opened the door for residents and businesses to enter into contracts that involve cryptocurrency. This development was announced by Diana Mondino, the Minister of Foreign Affairs, on the platform X (formerly known as Twitter). Mondino explained that the new policy is part of broader state-led reforms designed to modernize economic interactions and streamline cross-border and domestic agreements.
According to the minister, the reforms will enable contracts to be settled not only with digital currencies but also with certain physical commodities. In practical terms, this could allow agreements to be denominated in Bitcoin or other cryptocurrencies while also recognizing items such as meat and dairy as acceptable forms of settlement under specific conditions.
Mondino further shared an excerpt from presidential instructions regarding debt repayment under such contracts. The document indicates that borrowers must provide funds in the currency specified by the agreement, even if that currency is not legally recognized within Argentina at the time of repayment. This move underscores a shift toward wider acceptance of non-traditional settlement currencies within the country’s contractual framework.
Separately, on December 12, a deputy minister of finance of the Russian Federation took part in a roundtable at MGIMO to discuss a bill aimed at exporting cryptocurrency as a product of mining activities. If this legislation passes, Russian companies could gain the right to export cryptocurrencies to international markets, signaling growing interest in cross-border cryptocurrency activity among major economies.
Observers note that the Central Bank of the Russian Federation has been closely watching developments in the Russian crypto market, evaluating risks and opportunities as the sector evolves. The current stance appears to balance cautious regulation with recognition of the sector’s potential impact on trade and finance.