Argentina Winery Adopts Crypto Payments to Receive Taxes | Crypto

Argentina Winery Adopts Crypto Payments to Receive Taxes

-The fifth most populous territory of Argentina, Mendoza, now accepts crypto payments to receive provincial taxes.

-As per the Press Release published by the government on August 27, residents of Mendoza are allowed to pay their taxes and other government fees using the pay online section of the tax administration.

-The new payment service rolled out on August 24 currently accepts the stablecoins like Tethers USDT and DAI.

-The government took this decision after the inflation rate skyrocketed in the state.

-Argentinas economy has hit a 20-year high inflation rate of 71%, with the central bank skyrocketing interest rates to 69.5%.

-Earlier this month, Mastercard announced issuing prepaid cards for Argentinas 90 million online stores in partnership with the worlds largest exchange by trading volume, Binance.

-Cryptocurrencies caught hype in Argentina following its neighbor country El-Salvadors innovative move to give bitcoin a legal tender, citing the unbanked nation as the reason behind the decision.

crypto Argentina Winery Adopts Crypto Payments to Receive Taxes

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