Argentine province allows residents to pay taxes in USDT (report)

Reportedly, the authorities in Mendoza province have made it possible for citizens to pay government fees and taxes in cryptocurrency. The region’s tax department called the move a “strategic goal of modernization and innovation,” which could give “taxpayers different ways to meet their tax obligations.”

Contrary to Mendoza’s pro-crypto stance, Argentina’s central bank is not so much for the industry. Earlier this year, local financial institutions were banned from facilitating services for digital assets.

  • According to a local report, it became possible to pay taxes in cryptocurrencies instead of pesos in one of the largest provinces of Argentina – Mendoza.
  • Initially, the region’s authorities will accept payments in Tether (USDT), while at a later stage they plan to add more digital assets as an option.
  • Taxpayers can use popular crypto wallets such as Binance, Buenbit, Bitso, Ripio, Bybit and Lemon Cash.
  • In April of this year, lawmakers in Buenos Aires also considered a similar matter. Mayor Horacio Rodriguez Laretta stated that the capital aims to digitize the operations of its management, adding that blockchain technology will play a major role.
  • He also hinted that citizens may get a chance to pay their taxes in cryptocurrency in the near future:

And we’ll make it easier to pay taxes, the ninth measure of this plan. Together with leading companies, we are working so that those who want to be able to pay their taxes in cryptocurrency can do so.”

  • However, it should be noted that the Central Bank of Argentina (BCRA) does not support the digital asset sector. Not so long ago, local banks were banned from providing cryptocurrency services to customers.

“The measure ordered by the BBK Board of Directors is aimed at mitigating the risks associated with the operations of these assets that may arise for users of financial services and the financial system as a whole,” the entity said.

Post-Argentina province allows residents to pay taxes in USDT (report) first appeared on CryptoPotato.

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