Argentine province allows its citizens to pay taxes in the digital currency USDT

Argentine province allows its citizens to pay taxes in the digital currency USDT

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Answer Argentine province allows its citizens to pay taxes in the digital currency USDT

The authorities of Mendoza province have enabled citizens to pay government fees and taxes in cryptocurrency.

The region’s tax department described the move as the strategic objective of modernization and innovation, which could give taxpayers different means to comply with their tax obligations.

Contrary to Mendoza’s pro-crypto stance, Argentina’s central bank does not favor the crypto industry much.

Earlier this year, local financial institutions were banned from facilitating digital asset services.

According for a local reportIn one of the largest provinces in Argentina – Mendoza, it became possible to settle taxes with cryptocurrencies instead of pesos.

Read:Learn about the first football club to decide to pay the salaries of its players with “digital currencies”

Initially, the region’s authorities will accept Tether (USDT) payments, while at a later stage they plan to add more cryptocurrencies 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 Rodríguez Laretta stated that the capital aims to digitize its management operations, 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, adding:

We will make it easier to pay taxes.

Together with leading companies, we work so that those who want to pay their taxes in cryptocurrency can.

However, it should be noted that the Central Bank of the Argentine Republic (BCRA) does not support the cryptocurrency sector.

Read:Chinese Government Seizes $4.2 Billion of Bitcoin and Ethereum from “PlusToken” Scam

Not so long ago, local banks were banned from providing cryptocurrency services to customers.

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