A presidential decree highlighted the need to improve the features of the Mint. The entity will lead the administration and research of technologies linked to Bitcoin.
The Government of Argentina highlighted that it would add Bitcoin technology to the current goals of the Mint. To achieve this goal, the administration revealed a policy in the organic statute of the entity commanded by the president and active since April 27, 2022.
According to decree 207/2022, released in the Official Gazette, this modification happened due to the need to improve and expand the Casa de la Moneda corporate goals.
The fundamentals of the change arrive from the advancement of digital spaces regarding transactions, payments, and the emergence and proliferation of technologies linked to the blockchain.
On the other hand, the change made is the implementation of subsection C in article No. 1 of the announcement that sets up the powers of the Mint. Thus, this power allows the development and execution of software to handle activities linked to digital certifications, digital governance, and centralized/decentralized databases.
In addition, this entity got assigned the mission of closely following the technological evolution of these spaces that use databases of all kinds and the development of the digital products created within that framework.
La Casa de la Moneda is an entity closely linked to the government whose original mission is to generate circulating currencies, valued species, control and collection instruments, and exceptional documentation required by The State. In addition, it makes all types of forms for official or private entities, both national and foreign.
Another of Casa de la Moneda’s functions is to carry out all kinds of activities linked to the graphic arts and the evolution of these technologies. It covers every action regarding digital data processing, software, and digital security.
Argentina and Regulation Procedures
The increasing interest of the Argentine administration in Bitcoin and its space can get viewed from various corners. Still, First of all, the nation is one of the regions with the highest adoption rate regarding digital assets in Latin America.
On the other hand, the recent agreement reached with the International Monetary Fund (IMF) to refinance the national debt led to applicable regulations on the use of Bitcoin and even discouraged it by collecting more taxes.
In this way, Argentina might become a regulatory testing region. Bitcoin will not go under the table, both in the Mint and the other official entities leading activities on the subject.
By: Jenson Nuñez
