Buenos Aires, the capital of Argentina, has launched the BA Crypto program with over 10,000 residents having used cryptocurrency.
The city of Buenos Aires has just announced a series of ambitious measures to become the leading global cryptocurrency hub. This move includes allowing residents to pay municipal taxes and public fees using cryptocurrency, marking an important step in modernizing the public payment system.
According to data from the city government, over 10,000 residents of Buenos Aires are receiving payments in cryptocurrency, reflecting a high level of adoption of this technology locally. The newly launched BA Crypto program will allow payment of municipal taxes, housing fees, licensing fees, driver's license fees, and even traffic violation fines using cryptocurrency.
A new payment platform integrates a QR code-based system, allowing local wallets to access the city's system. The government is committed to implementing a universal core payment infrastructure in the future, supporting transactions from any cryptocurrency wallet.
Incentives for businesses and investors
The program not only stops at accepting payments but also includes simplifying taxes related to cryptocurrency. Buenos Aires is also offering special incentives for virtual asset service providers (VASPs) and companies operating in the blockchain sector based in the city.
Jorge Macri, head of the Buenos Aires government, emphasized the strategic importance of this initiative. "The goal is to make the city the global capital of cryptocurrency. We already have the human resources, and now we are creating tools by cutting bureaucratic procedures to facilitate taxpayers, while also supporting the emergence of new companies," he stated.
This move follows the direction set in 2022 when former leader Horacio Larreta announced a plan to implement tax payments using cryptocurrency as part of the city's digitalization strategy.
