Argentina partially legalizes cryptocurrencies

Citizens of the Mendoza province in Argentina can now pay government fees and taxes using cryptocurrencies. In a statement on August 27, the Mendoza tax administration described the new crypto payment service as fulfilling the «strategic goal of modernization and innovation» by providing «taxpayers with different means to fulfill their tax obligations.» The service was officially launched on August 24, but at this stage, it only accepts Tether (USDT) stablecoins for tax payments.

Argentinians will be able to make payments through the portal on the agency’s website using cryptocurrency wallets from Binance, Bybit, and Ripio. When a user chooses a cryptocurrency as a payment method, the system will send a QR code converting the equivalent amount of stablecoins into pesos. When the payment is credited, the taxpayer will receive a receipt.

In early August, cryptocurrency exchange Binance announced the release of a new card for the Argentine market. The company’s partner in this project is the MasterCard payment system. The key feature of the project is the instant conversion of cryptocurrency into fiat at the point of sale. Binance Card provides a cashback of 8% of the purchase amount. Argentina was the first country in Latin America where Binance decided to test the new cards. We recently published a list of countries where bitcoin is considered legal.