The Argentine province of Mendoza, located in the west of the country and well known for its wines, has been planning to be a crypto hub for some time.
In fact, in July, the city’s mayor, Ulpiano Suárez, had said that he was carrying out actions to make it a Bitcoin-friendly city. The new announcement is that Mendoza has implemented a system allowing taxpayers to pay their taxes in full with cryptocurrencies.
The system is part of a strategic action by the provincial authorities to modernize the payment of state taxes and duties, offering various options to citizens to meet their obligations.
Nicolás Chávez, director general of the Mendoza tax administration authority, stated that it’s one more way to make tax payment easier for its citizens. The Minister of Treasury and Finance, Víctor Fayad, confirmed that they have incorporated new technology into a service offered by the payment processor that now allows taxpayers to use cryptocurrencies to pay obligations.
Mendoza to Accept Stablecoins
Although the payment utility is directly integrated into the province’s page, the payments are processed by an external company that accepts cryptocurrencies and settles the payments made in Argentine pesos to the province. The system only accepts payments in stable currencies, including USDT, USDC, and DAI. In this way, the system keeps volatility out of your trades.
The general administrator of the collecting agency, Alejandro Donati, commented: “We are incorporating the payment button on the official site for the payment with cryptocurrencies.”
The company that provides the online payment service converts cryptocurrencies into pesos, and the taxpayer is given the corresponding proof of payment. It is worth noting that traditional payment methods are still in force.
In April, Buenos Aires also reported its intention to enable the payment of taxes with cryptocurrencies, but this has not yet been carried out.