{"id":528333,"date":"2022-12-17T01:10:00","date_gmt":"2022-12-16T22:10:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/argentinas-province-to-issue-us-dollar-pegged-stablecoin\/"},"modified":"2022-12-17T01:10:00","modified_gmt":"2022-12-16T22:10:00","slug":"argentinas-province-to-issue-us-dollar-pegged-stablecoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/argentinas-province-to-issue-us-dollar-pegged-stablecoin\/","title":{"rendered":"# Argentina\u2019s province to issue US dollar-pegged stablecoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a39ba5bcd232\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a39ba5bcd232\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/argentinas-province-to-issue-us-dollar-pegged-stablecoin\/#%E2%80%9D_Argentinas_province_to_issue_US_dollar-pegged_stablecoin_%E2%80%9C\" >&#8221; Argentina\u2019s province to issue US dollar-pegged stablecoin &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Argentinas_province_to_issue_US_dollar-pegged_stablecoin_%E2%80%9C\"><\/span>&#8221; Argentina\u2019s province to issue US dollar-pegged stablecoin &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvMjhmYTc1MmQtMWRlNi00Y2JmLTgxNzMtZjIwZDA1NGM4ZjIwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>The province of San Luis in Argentina <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/billetera.sanluis.gov.ar\/pdf\/Ley_innovacion_sancionada.pdf\">approved<\/a> a legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the &#8220;Activo Digital San Luis de Ahorro&#8221;, will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of the province.\u00a0<\/p>\n<p>The bill authorizes the province to issue the stablecoin up to 2% of its annual budget. It also stipulates that assets can be transferred between parties, but it does not specify which chain will be used for the transactions. The province of San Luis is home to over 430,000 people.<\/p>\n<p>The stablecoin issuance is only one of the initiatives described in the bill called \u201cFinancial Innovation for Investment and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Economic Development\u201d, which aims to promote development in several sectors in the province through blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, including generating value and improving auditing procedures.<\/p>\n<p><strong><em>Related:\u00a0Argentina\u2019s fan token sinks 31% after World Cup loss against Saudi Arabia<\/em><\/strong><\/p>\n<p>Alongside the stablecoin, the bill allows local artists to issue nonfungible tokens (NFTs) with the goal of promoting financial and cultural inclusion. The bill stated:<\/p>\n<blockquote><p>&#8220;The &#8220;SAN LUIS ART DIGITAL ASSETS&#8221; will be art collections from the Province, giving local artists the opportunity to digitize their work and have it launched on the digital market through an internal web platform for purchase and sale. For the creation of these collections, NFT (Non Fungible Token &#8211; Token No Fungible) technology will be used, making this work of digital art unique, granting ownership and authenticity to the artist or holder of the digital asset.&#8221;<\/p><\/blockquote>\n<p>A complex economic scenario is driving crypto adoption in Argentina, where two digit inflation has sparked company and government initiatives into cryptocurrencies and blockchain technology. As of year-end, FocusEconomics panelists expect inflation to be at 73.5% in Argentina.<\/p>\n<p>A Chainalysis&#8217; report\u00a0revealed that over 30% of consumers in Argentina already use stablecoins to make everyday purchases, most likely for small retail transactions, under <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/argentina-s-province-to-issue-us-dollar-pegged-stablecoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Argentina\u2019s province to issue US dollar-pegged stablecoin &#8220; The province of San Luis in Argentina approved a legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the &#8220;Activo Digital San Luis de Ahorro&#8221;, will be available to all citizens of the province over the age of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":528334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/28fa752d-1de6-4cbf-8173-f20d054c8f20.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,76853,75493,74355,22845],"class_list":["post-528333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-latin-america","tag-stablecoin","tag-adoption","tag-argentina"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=528333"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/528334"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=528333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=528333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=528333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}