Buenos Aires opens to crypto payments

The city of Buenos Aarez has announced a series of measures to become a crypto hub for Argentina and Latin America. As part of the move, citizens can pay local taxes and other crypto obligations, allowing them to modernize the city’s payment system.

Buenos Aires targets global crypto leadership with incentives

Crypto adoptions are currently working at the local government level, with cities adopting a cryptography-friendly stance. The city of Buenos Aires recently announced a series of measures aimed at becoming a global leader in cryptocurrency adoption, given the high-level cryptocurrency origins who live there.

City figures show that over 10,000 residents have been paid in cryptocurrency, indicating a high level of adoption of these technologies. BA Crypto allows local tax payments, such as housing and permit fees, to ensure that new programs are invoked, and is also allowed to drive licenses and traffic fines with Crypto.

The new payment platform already includes a QR-based payment system that allows several local wallets to access the city’s system. In the future, the government will implement a universal payment core that will allow payments to be made from any crypto wallet.

The program also includes simplifying crypto taxes and incentives for virtual asset service providers (VASPs) and crypto companies to settle in the city.

Jorge Macri, head of the Buenos Aires government, highlighted the relevance of the move, focusing on increasing the visibility of the city among crowds of code origin. He declared:

The goal is for the city to become the world leader in cryptography. We already have human capital. Now they are creating tools by promoting taxpayer compliance and reducing bureaucracy to support the arrival of new businesses established here.

The city had already signalled in support of a similar measure in 2022, when former head of the Buenos Aires government, Holocio Lareta, said it had decided to implement encryption and tax payments as part of its city-wide digitalization.

Read more: Buenos Aires confirms plans to allow citizens to pay taxes in cryptocurrency