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.
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 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.
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.
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