The monthly payment under the sealed contract will equal $100 in Bitcoin.
In Rosario, the third most populated city in Argentina, a local landlord and a tenant have sealed a rental agreement where the latter will pay monthly rent in Bitcoin
$42,658 . According to a report in the local newspaper Paginal 12 from Jan. 11, the contract is the first of its kind in Argentina, made possible by recent law amendments by the new presidential administration.
The monthly payment under the sealed contract will equal $100 in Bitcoin. The tenant will transfer the funds monthly through Fiwind, a local crypto platform. The report highlights that both counterparties to the contract are experienced crypto users.
Argentine rental law, along with other parts of the national legal system were amended by the newly-elected President Javier Milei, who won the general election in November 2023 amid rampant inflation across the country.
In December 2023, Diana Mondino, the minister of foreign affairs, international trade and worship, claimed that a decree aimed at economic reform and deregulation would allow the use of Bitcoin and other cryptocurrencies in the country under certain conditions.
The government has also eased the path to legalizing crypto holdings even if they’re overdue on tax declarations. Under the framework of a regularization scheme, taxpayers would pay a flat tax on assets of 5% if they declare holdings by the end of March 2024, 10% from April and 15% from July until the end of September.