Mendoza Province Now Accepts Cryptocurrency For Fees And Taxes

An Argentinian province named Mendoza has set up a system that enables people to pay all their taxes using cryptocurrency. The system, which went live this week, is a strategic attempt by the tax department of Mendoza to modernize and automate payments. It employs a third company to manage the transaction processing. Mendoza to Use Cryptocurrency to Pay Taxes Due to cryptocurrencies’ rising popularity, more and more governments are using them to pay for duties related to the state. One of the first provinces in Argentina, Mendoza, has a digital framework that enables taxpayers to make payments and conduct other transactions using digital money. The system went live on August 24. It is a primary element of a strategic initiative by the state government to modernize the payment of taxes and state tributes by giving individuals more alternatives for satisfying their duties. Mendoza Tax Administration Authority General Director Nicolas Chavez said, “It is one more door to facilitate the payment of taxes to taxpayers. This is a service offered by the payment processor with which we have incorporated new technology, such as virtual wallets and cryptocurrencies.” The payment facility is linked to the province’s page. The transactions are handled by a third party that receives cryptocurrency and converts Argentine peso payments into other currencies. Only stablecoins, including USDT, USDC, and DAI, among others, are accepted by the sy...