Cardano ambassador advocates to use $ADA as currency in Argentina

Last updated Dec 23, 2023

Cardano proponents showed significant Inclination toward Argentina’s new law so that people in Argentina can use $ADA coin in the form of currency.

Argentina is a very big hub for the crypto sector. Because of inflation people invest in Bitcoin & stablecoins e.g. USDT, USDC, etc. Currently, there are no laws for the crypto sector in the jurisdiction of this country, like in the majority of the countries. There are crypto tax rules so that government agencies can make some earnings from the crypto investors.

Just a day ago, we reported that the government agencies in Argentina are working to bring a rule to allow the citizens to use any currency/asset for financial transactions under a “contract agreement”.

The Minister of Foreign Affairs officially talked about this bill and specifically mentioned Bitcoin.

Y también cualquier otra cripto y/o especie como kilos de novillo o litros de leche.
Art 766. – Obligación del deudor. El deudor debe entregar la cantidad correspondiente de la moneda designada, tanto si la moneda tiene curso legal en la República como si no lo tiene.
— Diana Mondino (@DianaMondino) December 21, 2023

Following these developments in Argentina, a Cardano ambassador & proponent talked about the use of $ADA coin under the contract agreement and also asked who would be part of the first legal contract in ADA using the CARDANO MAINNET.

CARDANO – ARGENTINA – LAW
All the news that you need to know.@IOHK_Charles
🔵A law in the form of a DNU has been issued, requiring approval by a simple majority of the Congress, amending the Civil and Commercial Code of the country.
This allows parties to have obligations… pic.twitter.com/5TCSnfimnE
— Mauro Andreoli || Cardano Ambassador (@MauroAndreoliA) December 22, 2023

Cardano founder Charles Hoskinson responded on these legal developments around crypto in Argentina as well as the use of Cardano and asked who will test ADA in Argentina under a contract agreement.

In response, the Cardano ambassador said that he is working with his colleagues to explore the use of ADA at the global level.

We are already working with colleagues of the legal and Cardano world on this, and I am fully qualified professionally to execute it.
If approved, we will make history.
We need to define the object of the contract. What would you like to see? A purchase, a sale? Rental of a… pic.twitter.com/MDNPIz1ymV
— Mauro Andreoli || Cardano Ambassador (@MauroAndreoliA) December 22, 2023

This is a good approach by the Cardano proponents to push the use of blockchain & crypto technology at a better level.

The Cardano team never follows promotional stunts to promote Cardano, instead, they spend time in the actual development works so that the Cardano network can be used across multiple industries.