An Area in Argentina Permits Taxes to Be Paid Using Tether (USDT)

Reports have it that cryptocurrency is allowed to be used for paying fees and taxes in Mendoza Province. This development was described as a modernization and innovation plan, which is geared at offering taxpayers flexibility when carrying out their civic responsibility of paying taxes.

Directly opposite to Mendoza’s crypto perspective, the Central Bank of Argentina doesn’t have like interest in the crypto industry. Even recently the country prohibited financial institutions in the country from aiding electronic property services.

More Details on This Development
However, the report that came out of Mendoza Province, revealed that crypto can now be used to settle taxes in place of the local currency (peso). To start with the authorities in the area will allow tax payment using Tether (USDT). And subsequently, some other crypto will as well be allowed.

For a start, people who intend to pay using crypto will be allowed to use well-recognized wallets like Lemon Cash, Bybit and Binance. During sometime in April this year, policymakers in Buenos Aires as well pondered doing what Mendoza Province did. A statement from Mayor Horacio Rodriguez revealed that they are aiming at digitizing their process of administration. This statement includes that the Blockchain will play a major part in this.

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