Payments and Banking • August 29, 2022, 3:55PM EDT

Argentina's wine-making haven now accepts crypto as tax payment

Quick Take

The Argentine province of Mendoza started accepting crypto as means of payment for taxes and fees.
Residents can go online and get a QR code to scan and pay with any wallet.

Residents of Argentina's wine-making mecca Mendoza can now pay taxes and fees using cryptocurrency.

The government of the province of Mendoza — which includes the desert city of the same name and is located in the west of the country along the Andes mountain range — rolled out the new feature last week.

Taxpayers can get a QR code and send the funds from their wallets. According to this nifty step-by-step guide, any crypto wallet is supported.

An unidentified company will provide the online payment service and convert those cryptocurrencies and the tax administration gets paid in pesos, according to the press release.

It's not the first government to accept taxes in crypto. In March of this year, Florida Governor Ron DeSantis announced he is taking steps to enable firms to pay taxes in cryptocurrencies. The canton of Zug, one of the Swiss Confederation member states, started accepting bitcoin and ether last year.

"This new service is part of the modernization and innovation strategic goal carried out by Mendoza's tax authority so that taxpayers have different means to comply with their tax obligations," the tax authority said.