Bitcoin Rental Agreement between a Landlord and Tenant in Argentina

Crypto News – A renter in Rosario, Argentina‘s third-most populous city, has signed a lease with a local landlord in which the tenant agrees to pay rent each month in Bitcoin.

Bitcoin Rental Agreement between a Landlord and Tenant in Argentina

The agreement, which was made possible by recent legislative changes in the new presidential administration, is the first of its sort in Argentina, according to an article published in the local newspaper Paginal 12 on January 11. As per the sealed contract, the monthly payment will be $100 in Bitcoin. Via the local cryptocurrency platform, Fiwind, the tenant will transfer the money each month. The study emphasizes how knowledgeable about cryptocurrencies both of the contract’s counterparties are.

After winning the general election in November 2023 amidst widespread inflation, newly elected President Javier Milei changed the Argentine rental law as well as other aspects of the country’s legal framework. The minister of foreign affairs, international commerce, and religion, Diana Mondino, stated in December 2023 that the country would permit the use of Bitcoin and other cryptocurrencies under specific circumstances as part of a decree intended to decentralize and restructure the economy.