Bitcoin rent agreement: Landlord and tenant finally agree on something

The monthly payment under the sealed contract will be an equivalent of $100 U.S. dollars, paid in Bitcoin.

In Rosario, the third most populated city in Argentina, a local landlord and an occupier have sealed a rental agreement, along which the latter will pay monthly rent in Bitcoin. According to the report from the newspaper Paginal 12 from Jan. 11, this is the first such contract in Argentina, made possible by the recent law amendments of the new presidential administration. 

The monthly payment under the sealed contract will be an equivalent of 100 American dollars, paid in Bitcoin (0.0021 BTC). The tenant will transfer the funds monthly through Fiwind, a local crypto platform. The report specifies that both counterparts of the contract are experienced users of crypto.

Related: Who is Javier Milei, Argentina’s market-friendly president?

Argentine Rental Law was, among other parts of the national legal system, amended by the presidential administration of Javier Milei, who won the general elections in November 2023 amid pressing inflation across the country.

In December 2023, Diana Mondino, minister of foreign affairs, international trade and worship of Argentina, claimed that a decree aimed at economic reform and deregulation would allow the use of Bitcoin and other cryptocurrencies in the country under certain conditions.

The government has also eased the path to legalizing crypto holdings even if they’re overdue on tax declarations. All taxpayers would have to pay in the framework of a regularization scheme is a flat tax on assets: 5% if they declare holdings by the end of March 2024, 10% starting from April and till the end of June 2024, and 15% starting from July and till the end of September.