Argentina Witnesses Landmark Bitcoin Rental Agreement

The landlord and the tenant have signed a Bitcoin rental agreement in Rosario where the renter will pay the monthly rent in Bitcoin.

The local landlord and the tenant have signed a Bitcoin rental agreement in Rosario, which is the third-most populous city in Argentina. The renter will pay the monthly rent in Bitcoin, according to the terms of the agreement.

According to a report published in the local newspaper Paginal 12 on January 11, this Bitcoin rental agreement marks the first of its kind in Argentina.

The new presidential administration made recent revisions to the legislation, making this development possible.

According to the terms of the sealed contract, the monthly payment will be equal to one hundred dollars in Bitcoin. The tenant will transfer the funds every month through Fiwind, a local cryptocurrency network.

The report highlights that both parties to the arrangement are seasoned cryptocurrency users.

The newly elected President of Argentina, Javier Milei, who won the general election in November 2023 amid widespread inflation across the country, made changes to the Argentine rental law as well as other components of the national legal system.

In December 2023, Diana Mondino, the minister of foreign affairs, international commerce, and worship at the time, asserted that a decree aimed at economic reform and deregulation would enable the use of Bitcoin and other cryptocurrencies within the country, under certain conditions.

In addition, the government has made it easier to legalize cryptocurrency holdings such as Bitcoin even if the holders have to file their tax returns after the deadline.