Argentina has officially approved the agreement to legalize the use of Bitcoin

[cryptoWODL]

We saw El Salvador become the first country to accept Bitcoin as legal tender, and since then many countries have adopted Bitcoin.

This time maybe Argentina is about to legalize bitcoin in their country. We heard the news after Argentina's new president, Javier Milli, won the election.
Today I saw confirmation from Argentina's appointed Minister of Foreign Affairs that officially approved the agreement to legalize the use of Bitcoin in Argentina.

We saw that people in Argentina have adopted digital currencies such as Bitcoin and USD in recent years.
If Argentina formally approves the agreement to legalize Bitcoin, it would be the first step toward potentially wider crypto adoption in the country.
Get it here: https://www.fxempire.com/news/article/argentina-approves-bitcoin-btc-as-official-currency-1397688

[rat03gopoh]

This isn't complete approval, is it, like Salvador adopting it for transactions in general?
Mentioning the term "agreeing to the contract" can be in specific transactions, I think it is only in large amounts for certain people. Or not directly using bitcoin, just advantaging its value (whatever way).

[BlackBoss_]

This time maybe Argentina is about to legalize bitcoin in their country. We heard the news after Argentina's new president, Javier Milli, won the election.
Today I saw confirmation from Argentina's appointed Minister of Foreign Affairs that officially approved the agreement to legalize the use of Bitcoin in Argentina.

It is not closely to legal tender. There are movements in the country to allow Bitcoin and cryptocurrencies with some conditions.

‘In Argentina, contracts can be settled in Bitcoin’ — Foreign minister

There are only two countries which make Bitcoin legal tender: https://coinmarketcap.com/legal-tender-countries/

They are El Salvador and Central African Republic and I agree that Argentina is going to make Bitcoin legal tender in their country. It won't happen in 2023 as the year is counting down its last 9 days that are not enough for Argentina to do it.

[mk4]

Re: Argentina has approved Bitcoin as their "official" currency.

You probably need to change your title. Argentina legalizing bitcoin as an official currency is very different from making bitcoin their official currency; the latter somewhat implies that bitcoin is now their main currency.

[tabas]

It was all about the contracts that can be settled in Bitcoin as per articles like this; Argentina Approves Bitcoin (BTC) as “Official” Currency
While it was a good move to know that the newly elected president of it is approved to be a Bitcoin enthusiasts. Then for sure that we're going to see people liking and disliking his actions towards favoritism about Bitcoin. Just like El Salvador, many will not like the new adoption of it but the president hopes that it will help their economy. Aside from El Salvador that made it a legal tender, there's also the Central African Republic but I guess that they've changed their mind and stopped it already. So, for Argentina, it's not official yet but it's getting favor from its current administration.

[Manny@11111]

Based on the new leader and what the foreign affairs minister said is just a matter of time for Argentina to join CAR and El-Salvador, might not happen this year 2023 but it's closer than you think.

[Don Pedro Dinero]

Sort of clickbait title but it does not seem to have been intentional, but rather that the OP does not quite understand what is happening in Argentina. It has taken a step in the direction of bitcoin normalization but has not adopted it as legal tender, as has been commented. We will see if they will take more steps in that direction in the future, but it does not seem to be a priority for Milei.

[Ndabagi01]

If Argentina formally approves the agreement to legalize Bitcoin, it would be the first step toward potentially wider crypto adoption in the country

It is just a matter of time before bitcoin will be approved and legalised in Argentina. The new president, Javier Milli have shown a lot of interest in digital currencies and with this step he has taken, it has shown that he will move for the adoption of the currency in the country in few years to come.

[Natsuu]

Sort of clickbait title but it does not seem to have been intentional, but rather that the OP does not quite understand what is happening in Argentina. It has taken a step in the direction of bitcoin normalization but has not adopted it as legal tender, as has been commented. We will see if they will take more steps in that direction in the future, but it does not seem to be a priority for Milei.

I think so too. I dont think OP made it intentional to sound like a fakenews. The potential legalization of Bitcoin in Argentina marks a significant development in the global crypto landscape. If approved, it could pave the way for increased cryptocurrency adoption for more people.
Im wondering when will this happen in our country haha very few are interested to the crypto world especially since our government are very much skeptic of it

[Odohu]

The caption is misleading because what they did is not the same as making Bitcoin their official currency. There are indications that Bitcoin will eventually become a legal tender there following the election of a Javier Milei,  a Bitcoin lover who is determined to tackle the economic situation of that country. Until Bitcoin is made a legal tender, it should be made clear that they only approved fhat contracts can be settled in Bitcoin. This does not mean that their currency have been replaced by Bitcoin.

[EarnOnVictor]

Good news is just pouring in for Bitcoin, Wow, no wonder I see the price of the coin jumping up again, and this is not only Bitcoin, other cryptocurrencies are included in this good news, which could explain why the price of SOL hit about 100 US dollars the last time I saw it. I believe we need more new governments around the world to replace the old ones because the mentality of the old seems to be the same. But the fresh blood may see things differently and could possibly believe in the technological advancement in payment and settlements for this to be possible.

This means that banks will not have any choice but to obey and settle some international and local contracts in Bitcoin as long as the parties involved agree, and this will also limit the dominance of banks in the country in the situation where banks were privy to see every important document before. But now, people can just involve their lawyers alone and a settlement is made. That is the beauty of Bitcoin.

[Text]

While contracts denominated in Bitcoin can now be officially recognized by the country’s courts, this does not necessarily mean that Bitcoin has been approved as an “official” currency. The recent developments indicate a possible path towards its acceptance as a legal currency, but as of now, Bitcoin is not yet an official currency in Argentina. The new government under President Javier Milei has indeed shown a positive stance towards Bitcoin, but it seems that there are still many factors to consider and steps to be taken before Bitcoin can be fully integrated into Argentina’s financial system.

[CageMabok]

Picture

This time maybe Argentina is about to legalize bitcoin in their country. We heard the news after Argentina's new president, Javier Milli, won the election.
Today I saw confirmation from Argentina's appointed Minister of Foreign Affairs that officially approved the agreement to legalize the use of Bitcoin in Argentina.

I also hope that this can run quite smoothly and safely in Argentina because El Salvador also has very good diplomatic relations with Argentina so that Argentine citizens themselves have been familiar with Bitcoin for a long time and many have also used Bitcoin. So if the legalization can run smoothly in Argentina, of course the Argentine government itself will not be difficult enough to introduce Bitcoin to its own citizens after it is truly approved by all parties.

We saw that people in Argentina have adopted digital currencies such as Bitcoin and USD in recent years.
If Argentina formally approves the agreement to legalize Bitcoin, it would be the first step toward potentially wider crypto adoption in the country

Argentinian people have known Bitcoin for a long time and no longer see Bitcoin as something new to them at this time. Diana Mondino, Argentina's minister of foreign affairs, international trade and worship, has also claimed that the decree legalizing the use of certain currencies in contracts and payments will apply to Bitcoin. And that is something that is very good for Argentina, considering that this country is a fairly developed and prosperous country overall. Source: https://cointelegraph.com/news/argentina-contracts-settled-bitcoin

[pinggoki]

Why is the Minister of the Foreign Affairs the one that's confirming this news of bitcoin legalization though? Shouldn't it be the finance branch or the bank branch of the Argentinian government the one that should be confirming this? I'm just confused because as I remember, foreign affairs are involved in international relations and diplomacy right? From what I've read, it's not a complete adoption yet but given the stance that President Javier Milli takes on this particular issue, I don't think it's not a far before bitcoin becomes a legal tender in the country, celebrating with you Argentinian bitcoin users, you're one step ahead of the many countries including mine that are still resisting the allure and benefits that bitcoin have, I hope that we will follow suit soon and be the first one in SEA.

[SamReomo]

I'm happy to see that a country like Argentina is going to accept Bitcoin as a legal tender. I believe that when they officially accept Bitcoin as a legal tender then we may see some pump in the price of Bitcoin. When the bull market is going on such news always helps to have more positive actions towards Bitcoin adoption.

I think the president of Argentina Javier Milei will play his role as a Bitcoin enthusiast and we may soon see Bitcoin to get legal status in another country. I believe that the rest of the world should learn from El Salvador, Central African Republic, and now Argentina, that Bitcoin is a valuable currency and it should get legal status.

[sokani]

<snip>

Adopting Bitcoin as a legal tender and accepting contracts in Bitcoin are two different things. The article only said that a law has been passed to enable the settlement of contracts with cryptocurrency, which is a positive news and a glimpse of some of the good plans of the new administration.

They are El Salvador and Central African Republic and I agree that Argentina is going to make Bitcoin legal tender in their country. It won't happen in 2023 as the year is counting down its last 9 days that are not enough for Argentina to do it.

I believe that the rest of the world should learn from El Salvador, Central African Republic, and now Argentina, that Bitcoin is a valuable currency and it should get legal status.

Currently, El Salvador is the only country that has adopted Bitcoin as a legal tender. It would be wrong to include Central Africa Republic (CAR), since CAR had chicken out of its Bitcoin adoption goal.

[Blitzboy]

Argentina's Bitcoin legalization fundamentally changes global finance. First, it recognises the growing role of digital currencies in the economy. Argentina's banking system now uses Bitcoin, adjusting to a digital future. Fintech development may increase as worldwide crypto investors and innovators flock to its economy.

Second, evaluate financial market effects. Argentina's inclusion of Bitcoin might lead to novel financial products like Bitcoin ETFs, which offer investors regulated crypto exposure. The stability of traditional finance and the energy of the crypto market could shift the game.

Argentina's choice may encourage other nations, causing a global wave. This dramatic move towards widespread cryptocurrency acceptance signals a shift in how nations see and use digital assets. Bitcoin is merely one part of a global financial revolution. History is being made.

[Yamane_Keto]

Assume that Bitcoin is not adopted as a legal tender, and therefore it will join the list of countries where Bitcoin is legal in exchange for taxes. The best thing that will happen is that taxes are low and the laws are tolerant, but it is not a legal tender, as companies can be forced to accept Bitcoin for all payments.

With the current fees issue, I do not expect there to be any use of Bitcoin in daily transactions.

[Litzki1990]

Where did you get the news and where did you read the news if you share the link of that news then we can go there and know the details. This is not the first time such news is being published, but many similar news have been published before. Bitcoin may be discussed but Bitcoin being discussed and Bitcoin validating are two different things. The truth of the matter will be known only if any such official news comes from Argentina. Maybe the news you read is just rumours. If you are reading my comment, please share the link from where you got this news.

[cryptoWODL]

Where did you get the news and where did you read the news if you share the link of that news then we can go there and know the details. This is not the first time such news is being published, but many similar news have been published before. Bitcoin may be discussed but Bitcoin being discussed and Bitcoin validating are two different things. The truth of the matter will be known only if any such official news comes from Argentina. Maybe the news you read is just rumours. If you are reading my comment, please share the link from where you got this news.

Actually you should have read my post better before posting.Look at the picture that I have added, click on the picture, I hope you will get the details.

Still I am sharing that link: https://www.fxempire.com/news/article/argentina-approves-bitcoin-btc-as-official-currency-1397688