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Argentina’s Mendoza province Added Crypto to List Of Viable Tax Payment Measures

By Natalie Wu | August 30, 2022

Another stride toward Argentina-based crypto adoption reportedly saw crypto added to the list of viable payment instruments for citizens from the Mendoza Province when paying government fees and taxes. 

Specifically, via a statement issued on Aug. 27th, the Mendoza Tax Administration (ATM) reportedly regarded to the new crypto payment service as fulfilling “the strategic objective of modernization and innovation,” giving “taxpayers different means to comply with their tax obligations.”

The official operation roll-out for the update will reportedly on Aug 24., but for this current stage, it will only accept stablecoins like Tether (USDT) for tax payments.

Citizens will reportedly have the ability to finalize payments via the portal on the ATM website using any crypto wallets like Binance, Bybit, and Ripio.

As soon as the user selects cryptocurrencies as their payment measure, the system sends a QR code, with the equivalent sum of stablecoins converted to pesos by an anonymous online payment service provider.

A receipt will be transferred to the taxpayer as soon as the ATM receives the payment. 

The announcement by the ATM is among the most recent news of crypto-associated adoptions thoughout Argentina. Mastercard disclosed in early August its plan to release a card supporting 14 coins including USDT in Argentina, prior to an introduction at a larger scale supporting 90 million online and physical stores.

In April, the nation’s capital Buenos Aires reportedly revealed details of its initiative to begin accepting public financial transactions in crypto.

“USDT allows Argentinians to access a market that is truly global and liberates them from local black markets with highly constrained liquidity resulting in high premiums. It also empowers them to hold Tether in ways that cannot be confiscated by the government, unlike local bank accounts,” added Tether.

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