A local landlord and tenant in Rosario, Argentina’s third most populous city, have reached a rent agreement in which the tenant will remit monthly rent payments in Bitcoin (BTC).
Recent legislative amendments by the new presidential administration have rendered this contract the inaugural of its kind in Argentina, as reported in the local newspaper Paginal 12 on January 11.
The monthly payment in Bitcoin will equal $100 per the terms of the sealed contract. The tenant will transmit the funds monthly via Fiwind, a regional cryptocurrency platform. The report emphasizes that both contract counterparties possess substantial expertise as cryptocurrency users.
The Argentine rental legislation, in addition to various other components of the domestic legal framework, underwent revisions under the administration of President Javier Milei, who assumed office in November 2023 amidst widespread inflation in the nation.
Regarding economic reform and deregulatory measures, Minister of Foreign Affairs, International Trade, and Worship Diana Mondino asserted in December 2023 that, subject to certain conditions, a decree would permit the use of Bitcoin and other cryptocurrencies in the country.
Additionally, the government has facilitated the legalization of cryptocurrency holdings, complete with delinquent tax returns. Taxpayers would be subject to a 5% fixed tax on assets if they declare their holdings by the end of March 2024, 10% from April, and 15% from July to September, by the provisions of a regularization scheme.
