The adoption of cryptocurrencies in Argentina is growing—residents of Mendoza province can pay taxes with cryptocurrencies.
In a statement dated August 27, the Mendoza Revenue Authority (ATM) noted that taxpayers now have “different means to meet their tax obligations,” including a new crypto payment service.
The service officially launched on August 24, but so far only stablecoins are accepted for paying tax payments: USDT, DAI and USDC.
On the ATM site, the user can choose how he wants to pay his taxes: in the traditional way or with the help of cryptocurrency. Payments are processed by a third party company that accepts cryptocurrencies and processes payments made in Argentine pesos.
Earlier this month, Mastercard announced the launch of a 14-coin card including USDT in Argentina.
Last month, a spokesman for the largest stablecoin issuer, Tether, noted that Argentina "battled high levels of inflation throughout its history" and that due to the instability of the Argentine peso, there is a strong demand for US dollars in the country,
"Tether has provided a real tool for users facing economic crises in Argentina."