- Buenos Aires lets residents pay taxes and fees with Dogecoin, pushing crypto deeper into everyday life.
- The Buenos Aires Cripto plan modernizes taxes and aims to attract foreign investors with simpler rules.
- Economist Saifedean Ammous warns Argentina’s debt-driven system is unsustainable despite crypto-friendly reforms.
Buenos Aires has taken a bold leap into the future of finance by allowing residents to pay local taxes with Dogecoin.
The decision marks a historic shift for the Argentine capital as it embraces cryptocurrency not only as a tradable asset but also as a real-world payment option. Local residents can now settle property taxes, vehicle registrations, fines, and even driver’s licenses with DOGE.
The Buenos Aires Cripto initiative seeks to enhance the city’s reputation as a global center for cryptocurrency while modernizing the tax system.
Jorge Macri, Buenos Aires’ chief of government, stated that the project’s main goals are to reduce bureaucracy, make compliance easier, and improve business-friendly conditions.
“The goal is for the city to be a global leader in crypto,” he said during the announcement.
A City Betting on Crypto Adoption
The city’s new framework is designed to attract foreign investment while providing residents with modern, flexible payment methods. Additionally, updated tax measures promise simpler filings and adjustments to calculations, aligning with the administration’s vision of an agile and efficient government. Moreover, city leaders believe this approach can position Buenos Aires as a regional benchmark for digital finance.
However, not everyone views Argentina’s financial outlook with optimism. Economist Saifedean Ammous, author of The Bitcoin Standard, has criticized the government’s economic program.
He described it as a “debt and inflation Ponzi” driven by unsustainable bond yields and peso devaluation. He highlighted Argentina’s infamous “bicicleta financiera,” a high-yield bond carry trade that he argues cannot last. “It is impossible for this bicicleta to run forever,” Ammous warned.
Meanwhile, Dogecoin continues to hold strong relevance in global markets. According to CoinMarketCap, DOGE trades at $0.266775 with a 24-hour volume of $4.15 billion. Prices slipped 0.12% in the last 24 hours, yet the integration into Buenos Aires’ payment system signals growing utility.
Buenos Aires embracing Dogecoin for taxes shows crypto’s shift from speculation to real utility.
