Argentina Registers First Bitcoin Settlement Lease Agreement

After President Javier Milei issued an emergency executive order, Argentina registered its first Bitcoin-denominated rental agreement, opening the door to such solutions. The agreement stipulates that tenants must pay 100 USDT worth of Bitcoin per month to their landlords.

Argentina Starts Bitcoin-Denominated Rental Agreements

Argentina has reached a milestone in cryptocurrency adoption, registering one of the first contracts involving bitcoin payments. The first lease agreement settled in Bitcoin was recently signed in the city of Rosario, according to local Argentine news outlet La Capital.Jasminer

The agreement stipulates that the tenant will pay the landlord the equivalent of $100 USDT in Bitcoin each month, and that the national cryptocurrency exchange Fiwind has been chosen as the provider of the Bitcoin reference price to execute these payments. The contract also establishes that the tenant will execute these payments within the first five days of each month at an address provided by the landlord.

Local sources say that while there have been previous records of real estate sales settled in Bitcoin, this is the first lease agreement of its kind.

Argentine Foreign Minister Diana Mondino clarified that these contracts can be settled in Bitcoin, other currencies, thanks to President Javier Milei’s first major executive order repealing the leasing law. cryptocurrencies as well as other assets are also included.

The executive order that led to these agreements will be reviewed by the country’s courts, which have suspended the validity of certain parts pending a final decision on the legality of the document. Additionally, the emergency executive order may be suspended if both houses of Congress reject it.Whatsminer Miner

Nonetheless, the executive order allows tenants and landlords to legally sign such bitcoin-denominated leases, thus avoiding having to transact in Argentine pesos, the embattled and devalued national legal tender.

What do you think of Argentina’s first Bitcoin-denominated lease agreement?