After repealing Argentina's Rental Law, the government has allowed interested parties to enter into new contracts using any legal or non-legal currency, including Bitcoin.
The first real estate contract has been signed in Argentina in which the parties have agreed to make the corresponding payments with Bitcoin. It is a rental contract for a property located in the city of Rosario, in the province of Santa Fe.
Interested parties can now stipulate in the contract that transactions will be carried out with Bitcoin, even though the cryptocurrency is not yet legal tender in the country. This is thanks to the fact that Argentina's Rental Law of 2020 was repealed earlier this month, offering freedom to individuals and companies to define their preferred payment methods for real estate transactions.
Diana Mondino, who was appointed last month as Argentina's Minister of Foreign Affairs, International Trade and Worship, emphasized from her account on X (formerly Twitter) that Argentines have complete freedom to negotiate real estate contracts using Bitcoin, as well as any other form of payment of your preference.
Rent is set in Bitcoin
According to the real estate contract in question, the parties have set the monthly rent payment in Bitcoin, at the rate of the equivalent of $100 dollars per month in the cryptocurrency. According to the rental contract, it is also possible to make the payment of the rent using stablecoins, such as Tether (USDT).
The landlord, who is the owner of the property, will provide the corresponding cryptocurrency addresses to receive the rent payment established for the property in the contract.
The execution of this rental contract marks a before and after for the real estate market in the country.
Javier Milei, president-elect of Argentina, believes that cryptocurrencies represent a new and innovative form of digital money and a potential safe haven in the face of economic crisis and uncertainty.
Milei has a particular vision on monetary policies and the Argentine economy, so during his campaign he announced a series of important changes that he would apply if he was elected president of the nation; among them, the elimination of the central bank figureThis anti-system vision was ratified by Milei at the end of November, when he declared that the closure of the Central Bank of the Republic of Argentina (BCRA) is not a negotiable matter. He also declared that he will allow the free circulation of different currencies and forms of money in the country, including Bitcoin and cryptocurrencies.
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