“Now you can enter into contracts in foreign currencies, and they must be fulfilled the same way,” he said, referring to the decree. Milei said on Thursday that he would not immediately eliminate the restrictions, collectively known as the cepo — Spanish for “clamp”. Multiple elements of Milei’s decree point to a de facto dollarization, particularly in contracts. Foreign Minister Diana Mondino went further and pointed out that contracts could be agreed in cryptocurrency after the decree goes into effect. “We ratify and confirm in Argentina, contracts can be agreed in Bitcoin,” she said on X (formerly Twitter).

Source: Bueno Aires Herald December 21, 2023 23:37 UTC