Topic: Argentina has officially approved the agreement to legalize the use of Bitcoin (Read 603 times)

Bitcoin is of course believed to be able to revive the financial condition of Argentina and save Argentina from prolonged inflation, but the impact has not been seen quickly, just like El Salvador has just made a breakthrough in making Bitcoin legal tender there, the impact will not be felt quickly, it's just that now the positive impact is starting to be seen.

The booming ICO like a few years ago will never happen again, in the future we will only see cryptocurrencies that are on the top list that will continue to be used and have real use cases.

The decision of Argentina to legalize the use of Bitcoin is indeed a good one and this is expected since the President of Argentina is a pro-Bitcoin enthusiast. However, they need to work on a framework that will boost the country's economy through this decision cause welcoming crypto and decentralized finance is not enough to do the magic.

ICOs are no longer the waves in the market and they are not effective for new projects to raise funds or gain the attention of the general public investors.

Argentina's decision to officially approve the use of Bitcoin marks a significant step in embracing the potential of decentralized finance. This move aligns with the global trend of recognizing the legitimacy of digital currencies. As the crypto landscape evolves, initiatives like ico drops contribute to a better understanding of these innovations, fostering a more informed and engaged community.

If the Argentine government can get all its people to accept Bitcoin and use it like the people of El Salvador do, of course Argentine citizens will immediately create a large crypto community and go viral in the world even though Argentina is not the first country to make Bitcoin legal. However, I think this will not be easy enough for the Argentine government because the population in Argentina is much larger than the population in El Salvador. So it certainly takes time for the government to prepare everything.

Argentina seems to be in an unannounced contest with El Salvador in cases of Bitcoin adoption and integration.

I trust the Argentine President to go hard on Bitcoin adoption policies. The over reliance of local currncies has further strengthened corruption and Bitcoin can solve that ptoblennto a large extent. Although, Bitcoin adoption will be met with oppositions but its gonna be largerly adopted after all is said and done

Another milestone unlocked for bitcoin, making Argentina as the next to El Salvador to legalize bitcoin and make bitcoin as an official currency in the future, or probably a reserved currency from Argentine Peso which will experience devaluation of its peso. And with that, bitcoin is a perfect choice as its value continue to appreciate in time, turning it into a very expensive one.

That's a big step for the country and hopefully it's going to affect bitcoin a bit more significant than El Salvador, they've got more people to cater to and it's unlikely that they're won't mind not trying out bitcoin instead of Argentinian peso which is just going down in value everyday. Congratulations to the crypto community of Argentina, you're going to be the ones that's happy about this announcement of legalization.

NEW: As a result of President Javier Milei's megadecree. The first of its kind rental contract in #Bitcoin    has been signed in Rosario, Argentina. 🇦🇷
Details
"The agreement clarifies that an amount in ₿itcoin equivalent to 100 USDT will be paid month by month."

Thank you

In a country that has an inflation of nearly 100%, you need to have an alternative currency that can be used in exchange for their particular currency. The government has been the main reason why the inflation in Argentina rose that high, and with the new government, it's good that we are seeing them exploring some new things that might have a good effect in their country, and that includes legalizing Bitcoin.

Though legalizing doesn't mean it is legal tender, it just shows that the government allows their countrymen to use it without any regulations whatsoever. On the other hand, I still wonder how will the legalization of Bitcoin in Argentina affects the country positively. I mean do we see the country decreasing its inflation rate in the next few years with this move? Do we see a better economy ahead with this move by the government? Just curious because I don't hear any positive news regarding El Salvador when they put Bitcoin as a legal tender... or am I the only one that's outdated?

With the current transaction fees of Bitcoin, I doubt that many people in Argentina will use Bitcoin in their daily transactions. Store of value maybe, but for transactions? It's a no-no. Time will tell I guess on what will be the effects of this towards the economy of the country.

He is doing everything through decrees until now. Decrees are delicate and unstable measures, since they can be revoked at anytime by the legislative or judiciary. As I see, the establishment is allowing him to act freely for now. Maybe expecting he commits a serious mistake, to show how authoritarian he is to govern through decrees, or just to have a reason to bargain and blackmail him later. Like, if he wants the decree to remain active, he must do something in exchange...

Until now, everything is working exactly like it worked in Brazil in 2019. High expectations and hopes from the population, an apparent coherent leader with his campaign's proposals, a qualified and technical team of ministers, a government commited with economical responsability. If it lasts for a little more than 1 year, it's already better than the brazilian fiasco. Let's see... Anyway, argentinians have the great opportunity of being paid in BTC for now, and saving their money for the next bull run. I wouldn't waste this golden opportunity!

However, I'm not certain how it works for real. Is the employer forced to pay the employees' wages in BTC, if they wish? And in case the employer doesn't want to pay wages in BTC, neither know how to deal with this, what happens? Is the government acquiring BTC to pay public employees in Bitcoin? How, where and for what rates?

If bitcoin can stay in twenty years to come, I believe that the price of bitcoin will change because of massive adoption of bitcoin, if Argentina Newly elected president adopt bitcoin as a legal tender I believe that with the news other countries will join the lane and start embracing bitcoin as a legal tender, once bitcoin become a legal tender in five different countries I believe that more countries can follow their steps to accept bitcoin as a legal tender and the pressure of government over bitcoin will be subside in terms of allegations and accusations of bitcoin used as a money laundering

Argentinian are witnessing one of their hardest years where inflation are hitting bad records and their money values less and less in a way maybe less than Venezuela or Mozambique but still serious one.
So it is normal to see these people trying to collect something that increases in value or at least has a stable value in order to keep their wealth as it is or increase it and Bitcoin is definitely a better option that the government estimated that it might worth to enter in the banking and the economic system to be exploited accordingly.
I don't know how much people are using Bitcoin in Argentina to know if this will be directed to everyone or selected politicians and businessmen.

It's accepted for those who want to use it, but trust me, not everyone will want to use Bitcoin for means of payment, or even accept it as means of settlement, because it seems many people don't know how crazy the Bitcoin transaction fee has become.

Not all people in the country will be able to afford using Bitcoin as payment option, some will prefer to use other alternative options and I won't blame them, it cost too much to use Bitcoin as money right now and we are just getting started, because very soon it will pissed many newbies off and they will have to choose other digital currencies instead of Bitcoin.

I understand what you meant, if this new is actually true then bitcoin will continue to be recognized by other countries having affiliation with Argentina, but let it not be politically motivated, politicians can make promise to enable them clinch the sit of power, but implementation becomes a mirage after they assume office, I think some Bitcoin enthusiast that are close to the president with his notice can come up with this strategy to boost the awareness of bitcoin in their country, no matter how the news seem to be, the major thing is that bitcoin now have a place in Argentina.

Not only for his country, but other countries may find it inspiring and so some will be motivated to follow their path.
Also, this is good for adoption of bitcoin, because it means, more users may be interested to get into this market.
This move will also eradicate some of the doubts of non crypto users that bitcoin is an illegal entity.
It is only the people who are doing illegal or fraudulent things that make this industry seemed so wrong.

There is no need to create false opinion matrices and in fact everything is Government Announcements, it will take months for it to become effective, in the best of cases, but the measure is so extensive that debts can be paid with animals, that is That is, the means of payment that is accepted is that which has value for the debtor.

Source:Foreign Minister, Diana Mondino/ x : (@DianaMondino) December 21, 2023

The newly elected president of Argentina. Prior to the election, he promised the general public in his country that he would legalize Bitcoin in Argentina if elected. Maybe after he gets elected he is using the roundabouts. But it is being word of mouth yet its formality or its legality has not yet been declared on paper by the Argentine government. But since the newly elected president is discussing Bitcoin legalization, maybe Argentina will soon have Bitcoin legalization on paper. If Argentina legalizes Bitcoin, it will surely be good for the people of its country.

Bitcoin's high fee is only a problem for small transactions. I think for large transactions bitcoin would still be a preferred compared to the logal currency because of it's easy to use features and security. and since it is now legal to use Bitcoin in Contracts it makes it even better for those who usually make large transactions for example Car Dealers and/or real estate companies/agents.

for small wonders, the current fee issue might cause some hesitation.

This will grow bigger and bigger. Nowadays poor nations are doing this, and that's understandable, I can see why they would do something like this and that makes sense, I get that it is not that easy and it is not that tough to handle. But that doesn't mean that we are not going to end up with a situation that would not be all that crazy, it is going to be something quite important to handle.

I believe that the best thing to do in this case would be just making sure that it is going to be poor nations some more, then slowly not so poor nations but not rich level, and then slowly a bit richer, and then eventually rich nations will do it too. It will grow from the bottom up, and it will definitely help everyone around the world as well. This will become a bigger deal when bigger nations of Europe does it, and it will definitely a be a big deal. Legal tender and legalized bitcoin are different, but when taxed and regulated it is just such a bigger deal then we think it could be.

Good to hear it. BTW, Argentina's economy is collapsing right? 

El Salvador, Argentina, and who's next?
Well, the adoption has continued to grow and people have changed their views against Bitcoin, they now see the benefits and opportunities of this technology. We can expect more places to accept Bitcoin as a legal tender and another payment option. For the Argentinian people, it was their chance to enjoy their Bitcoin and the chance for local businesses to accept Bitcoin's payment.

People build confidence using Bitcoin when they know that was legalized already, unlike in the country, it wasn't banned but the support of the government isn't there which could affect the trust and confidence of the users and the ones who accept it as payment as well.

Yea I agree, regardless of how Bitcoin is being legalised or accepted its an acceptance
by the authorities of Bitcoin. It probably means baby steps on the route to full El Salvador
type legalisation and adoption but I would say it will happen.

There was a fair bit of negativity around after El Salvador announced they were adopting
Bitcoin as legal tender and I dont think that will be the case with Argentina, the mould
has been broken by Bukele!

The market doesn't seem to care about this news too much. I thought this could've been a catalyst for a recent spike in the price but the timing is off. The price went up before this was announced.

It's interesting and a bit disturbing to be honest that El Salvador news was more popular in the media and pushed bitcoin to new highs, but there's literally nothing going on with the price at the moment. El Salvador is a banana republic when you compare it to Argentina. Argentina is a giant with a lot of natural resources. If it fixed its politics and Milei is on the right track here, it could become a very rich country. It already is the second in GDP on the continent while facing hyperinflation, so IMO even though they aren't making bitcoin legal tender it's much bigger news than El Salvador.

No doubt many countries have legalized BTC and the use of cryptocurrency in their country, but it does not mean, it is equal to the level of El Salvador because El Salvador has made it their legal tender which totally differs from making it legal in your country. So, even if the new president is legalizing BTC then it does not mean it will become a legal tender in Argentina.

Well, if it becomes the adoption is just doubled from here, because it will gain a hell lot of traffic and this traffic will increase the demand over supply and the price will shoot up so even if big ETFs got rejected, the adoptions like Argentina and many other countries will help BTC to gain value. But of course, the amount that BR would insert in the BTC market might not be inserted by Argentina.

In short, it is a good thing as adoption is all we need.

Regardless, this is still good news. Bitcoin being recognized by a country to be used in contracts and deals is one good improvement.  People in Argentina won't be worrying about their deals in cryptocurrency being ignored by the court.  This time the government is supporting Bitcoin deals and contracts that can further boost the Bitcoin real-life application. I think there is no need for Argentina to make Bitcoin a legal tender, a mode of payment, or being recognized in contracts and deals is enough, IMO.

The news OP shared didn't say that Argentina has made Bitcoin a legal tender. Even the title made it clear that the country legalize the use of Bitcoin and this news is all over the internet. The news simply shows that the government now recognizes Bitcoin as a currency that can be used for contractual agreements. This shows that Bitcoin is now a government-recognized currency but not yet a legal tender. This is a step in the right direction because Argentina is the second-largest economy in Southern America. This move could also motivate other nations in the region to adopt more flexible policies towards Bitcoin.


It is great to be optimistic about the positive impact of Bitcoin on the nation. But it is not good to have very high expectations. Adopting Bitcoin will not singlehandedly grow the economy or reduce unemployment in any country. The government need to do more to tackle these challenges.

The article says nothing about the legal process it would take to turn Bitcoin into something legalized or legal tender in Argentina. Another clickbait article leading to misinformation through a misleading title: "Argentina Approves Bitcoin (BTC) as “Official” Currency".

It's funny all they have to show is a tweet from 'minister of foreign relations and international commerce' and statement from an argentinian 'crypto lending and trading platform'. But what about the people who will vote this proposal? Or is the president going to sign a magic paper where everything he writes becomes reality?

I can be wrong, but I really doubt a divided country like Argentina, where the left wing still has its roots deeply on the ground will let any measures from Milei go ahead without creating lots of obstacles, delays and difficulties. If things were easy as Milei made they look to be during the polls, Macri would have fixed everything between 2015-2019.

It needs to be understood that there is a huge difference between the legalization of using Bitcoin and the status of Bitcoin as legal tender. They are vastly different and do not have the same implications. In the case of Argentina, Bitcoin is NOT being made legal tender. Merely the use of Bitcoin is being more accepted. And not even for everyone and everything. The acceptance is very limiting and the use of certain currencies in contracts and for payments is the main point of legalization here.

So its not really an "entire" legalization, it is only a partial one.

Although any good news, no matter how small is good for Bitcoin adoption.

Perhaps, the clickbait news is to reaffirm the new government's stand on accepting BTC and cryptocurrencies as legal tender and for transactions as other countries are doing. It is a good initiative to adopt because I believe it will even help the government better grow the economy to sooth unemployment and alleviate poverty to a certain degree.

it's a normal strategy that news sites uses to get attention. I have seen all and I read through it, It all falls at the same point.
From my subjectivity Argentina might end up not accepting it as a legal tender because this politicians are usually strategic in attaining office after being elected they might just go against they promises. And its not going to be a one man's decision because it must pass through the law makers (legislature) where some people might oppose but if the majority supports then it's going to be approved officially.

Well let's hope for the best, it might be official legalized too and that will be another stand for other countries to take this step.

Many medias always use a clickbait title, regardless it's accepted as official currency or contract agreement, since there's no official announcement from the Argentina's government, I just take the news as nothing right now.

Central African Republic withdrawn their laws to accept Bitcoin as their legal tender, so right now it's only El Salvador is still accepting Bitcoin as legal tender. Looking at the impact from Bitcoin as legal tender in El Salvador, it seems Bitcoin has no or less effect to El Salvador.

I also got to know.
This information encouraged us to work on Bitcoin even more.

ARGENTINA'S MINISTER OF FOREIGN AFFAIRS AFFIRMS BITCOIN ACCEPTANCE FOR CONTRACT AGREEMENTS
Source: https://bitcoinmagazine.com/business/argentinas-minister-of-foreign-affairs-affirms-bitcoin-acceptance-for-contract-agreements

I shared the link earlier which you didn't see so added it later.The link I shared is still accessible.You try well maybe your net problem for which you are not able to access the link.
Try again mate

If you want me to have pictures like the ones you've attached, I can make you hundreds of them in no time. The main point is that you created the post but forgot to share where you got such news before creating the post and when I mentioned you to share the link later you edited your post and then shared the link. 

For your information, the link you shared is not accessible. Maybe you read this news a long time ago and the site where you read this news is not accessible now.

the steps taken by the argentine minister to ratify bitcoin as an asset that is legally traded and transacted in that country is a good step that can have a positive impact on the economy. even though this is still in the planning stage because the legalization of crypto for use on a larger scale must go through the legislature, this is the right step that argentina must take to be able to improve their digital economy and build their economy nationally, and that can increase adoption bitcoins in the world.

I have read several media and this right information about Argentina has officially approved bitcoin as legal currency payment transaction, but less with top media publishing with this good news despite still waiting accurate information or not. Bitcoin current price still not increasing drastically and keep in the lower price, I think if good Argentina approved bitcoin as legal payment currency seems make bitcoin can up drastically more than 10% but current price not really up drastically.
I checked with my local media have been update but not all media share with this news, still no trust yet with this information because not all media publishing with this positive news. Better waiting with new update about Argentina have legal bitcoin transaction is true fake news only.

That is now the pull effect, which will only accelerate in the future. While some countries thought that banning BTC might have some merit, it is now inconceivable to think that banning could make sense. Being passive might be the way to go for some countries and instead of banning it, they just don't legalize it. But what options are left for countries when there is a true legalization wave for BTC around the planet? They can't leave this topic untouched forever, especially when more and more large institutional players want to buy and hold BTC as a reserve or investment. There is no way around legalizing it if large players know on the regulators' doors and ask what's going on.

Yes, you are correct that it is still not a legal tender in Argentina, it can be only used as a contract. I have been hearing that the legal currency in Argentina would become USD. I am not sure whether it is rumor or it is going to happen. It is a good to hear that another country with big economic issue is now focusing on a sector which IMF won't like it to focus.

I see two different things here quoted in the articles.

1. Argentina To Accept Contracts In Bitcoin i.e. Contracts Can Now be Settled in Bitcoin.
2. Argentina Approves Bitcoin as a Official Currency.

The latter is wrong to be honest, it's not the official currency of Argentina at all. In the article itself, it says the same thing as point 1.
Just a click bait titles to get more views.

Add the link on the OP so they don't have to ask again and put a code around the link. Not everyone will think first when they see a picture in a post to tap on it unless there's a clear indicator on it that you've incorporated the link and the image into one.

Like this one:

Cheers and have a Merry Crypto Christmas to the people of Argentina, it seems that you're going to be the country that will spearhead the bitcoin revolution in the South American continent, hopefully this event will be a drop that will create the ripple across South America to follow the steps you're taking, even if this isn't final yet and there's still some hiccups along the way, the support of the President will always be a big factor as to the materialization of this legalization.

Yes I agree with you because there are many such news but should have shared the link here to verify if it is true. If the OP could link to the news that Argentina has approved bitcoin legal tender, maybe people can be sure and know. But as far as I know there is still no news of Argentina legalizing Bitcoin through legal tender. However, the issue of Argentina Bitcoin legalization is under discussion.

Actually you should have read my post better before posting.Look at the picture that I have added, click on the picture, I hope you will get the details.

Still I am sharing that link: https://www.fxempire.com/news/article/argentina-approves-bitcoin-btc-as-official-currency-1397688

Where did you get the news and where did you read the news if you share the link of that news then we can go there and know the details. This is not the first time such news is being published, but many similar news have been published before. Bitcoin may be discussed but Bitcoin being discussed and Bitcoin validating are two different things. The truth of the matter will be known only if any such official news comes from Argentina. Maybe the news you read is just rumours. If you are reading my comment, please share the link from where you got this news.

Assume that Bitcoin is not adopted as a legal tender, and therefore it will join the list of countries where Bitcoin is legal in exchange for taxes. The best thing that will happen is that taxes are low and the laws are tolerant, but it is not a legal tender, as companies can be forced to accept Bitcoin for all payments.

With the current fees issue, I do not expect there to be any use of Bitcoin in daily transactions.

Argentina's Bitcoin legalization fundamentally changes global finance. First, it recognises the growing role of digital currencies in the economy. Argentina's banking system now uses Bitcoin, adjusting to a digital future. Fintech development may increase as worldwide crypto investors and innovators flock to its economy.

Second, evaluate financial market effects. Argentina's inclusion of Bitcoin might lead to novel financial products like Bitcoin ETFs, which offer investors regulated crypto exposure. The stability of traditional finance and the energy of the crypto market could shift the game.

Argentina's choice may encourage other nations, causing a global wave. This dramatic move towards widespread cryptocurrency acceptance signals a shift in how nations see and use digital assets. Bitcoin is merely one part of a global financial revolution. History is being made.

Adopting Bitcoin as a legal tender and accepting contracts in Bitcoin are two different things. The article only said that a law has been passed to enable the settlement of contracts with cryptocurrency, which is a positive news and a glimpse of some of the good plans of the new administration.



Currently, El Salvador is the only country that has adopted Bitcoin as a legal tender. It would be wrong to include Central Africa Republic (CAR), since CAR had chicken out of its Bitcoin adoption goal.

I'm happy to see that a country like Argentina is going to accept Bitcoin as a legal tender. I believe that when they officially accept Bitcoin as a legal tender then we may see some pump in the price of Bitcoin. When the bull market is going on such news always helps to have more positive actions towards Bitcoin adoption.

I think the president of Argentina Javier Milei will play his role as a Bitcoin enthusiast and we may soon see Bitcoin to get legal status in another country. I believe that the rest of the world should learn from El Salvador, Central African Republic, and now Argentina, that Bitcoin is a valuable currency and it should get legal status.

Why is the Minister of the Foreign Affairs the one that's confirming this news of bitcoin legalization though? Shouldn't it be the finance branch or the bank branch of the Argentinian government the one that should be confirming this? I'm just confused because as I remember, foreign affairs are involved in international relations and diplomacy right? From what I've read, it's not a complete adoption yet but given the stance that President Javier Milli takes on this particular issue, I don't think it's not a far before bitcoin becomes a legal tender in the country, celebrating with you Argentinian bitcoin users, you're one step ahead of the many countries including mine that are still resisting the allure and benefits that bitcoin have, I hope that we will follow suit soon and be the first one in SEA.

I also hope that this can run quite smoothly and safely in Argentina because El Salvador also has very good diplomatic relations with Argentina so that Argentine citizens themselves have been familiar with Bitcoin for a long time and many have also used Bitcoin. So if the legalization can run smoothly in Argentina, of course the Argentine government itself will not be difficult enough to introduce Bitcoin to its own citizens after it is truly approved by all parties.

Argentinian people have known Bitcoin for a long time and no longer see Bitcoin as something new to them at this time. Diana Mondino, Argentina's minister of foreign affairs, international trade and worship, has also claimed that the decree legalizing the use of certain currencies in contracts and payments will apply to Bitcoin. And that is something that is very good for Argentina, considering that this country is a fairly developed and prosperous country overall. Source: https://cointelegraph.com/news/argentina-contracts-settled-bitcoin

While contracts denominated in Bitcoin can now be officially recognized by the country’s courts, this does not necessarily mean that Bitcoin has been approved as an “official” currency. The recent developments indicate a possible path towards its acceptance as a legal currency, but as of now, Bitcoin is not yet an official currency in Argentina. The new government under President Javier Milei has indeed shown a positive stance towards Bitcoin, but it seems that there are still many factors to consider and steps to be taken before Bitcoin can be fully integrated into Argentina’s financial system.

Good news is just pouring in for Bitcoin, Wow, no wonder I see the price of the coin jumping up again, and this is not only Bitcoin, other cryptocurrencies are included in this good news, which could explain why the price of SOL hit about 100 US dollars the last time I saw it. I believe we need more new governments around the world to replace the old ones because the mentality of the old seems to be the same. But the fresh blood may see things differently and could possibly believe in the technological advancement in payment and settlements for this to be possible.

This means that banks will not have any choice but to obey and settle some international and local contracts in Bitcoin as long as the parties involved agree, and this will also limit the dominance of banks in the country in the situation where banks were privy to see every important document before. But now, people can just involve their lawyers alone and a settlement is made. That is the beauty of Bitcoin.

The caption is misleading because what they did is not the same as making Bitcoin their official currency. There are indications that Bitcoin will eventually become a legal tender there following the election of a Javier Milei,  a Bitcoin lover who is determined to tackle the economic situation of that country. Until Bitcoin is made a legal tender, it should be made clear that they only approved fhat contracts can be settled in Bitcoin. This does not mean that their currency have been replaced by Bitcoin.

I think so too. I dont think OP made it intentional to sound like a fakenews. The potential legalization of Bitcoin in Argentina marks a significant development in the global crypto landscape. If approved, it could pave the way for increased cryptocurrency adoption for more people.
Im wondering when will this happen in our country haha very few are interested to the crypto world especially since our government are very much skeptic of it

It is just a matter of time before bitcoin will be approved and legalised in Argentina. The new president, Javier Milli have shown a lot of interest in digital currencies and with this step he has taken, it has shown that he will move for the adoption of the currency in the country in few years to come.

Sort of clickbait title but it does not seem to have been intentional, but rather that the OP does not quite understand what is happening in Argentina. It has taken a step in the direction of bitcoin normalization but has not adopted it as legal tender, as has been commented. We will see if they will take more steps in that direction in the future, but it does not seem to be a priority for Milei.

Based on the new leader and what the foreign affairs minister said is just a matter of time for Argentina to join CAR and El-Salvador, might not happen this year 2023 but it's closer than you think.

It was all about the contracts that can be settled in Bitcoin as per articles like this; Argentina Approves Bitcoin (BTC) as “Official” Currency
While it was a good move to know that the newly elected president of it is approved to be a Bitcoin enthusiasts. Then for sure that we're going to see people liking and disliking his actions towards favoritism about Bitcoin. Just like El Salvador, many will not like the new adoption of it but the president hopes that it will help their economy. Aside from El Salvador that made it a legal tender, there's also the Central African Republic but I guess that they've changed their mind and stopped it already. So, for Argentina, it's not official yet but it's getting favor from its current administration.

You probably need to change your title. Argentina legalizing bitcoin as an official currency is very different from making bitcoin their official currency; the latter somewhat implies that bitcoin is now their main currency.

It is not closely to legal tender. There are movements in the country to allow Bitcoin and cryptocurrencies with some conditions.

‘In Argentina, contracts can be settled in Bitcoin’ — Foreign minister

There are only two countries which make Bitcoin legal tender: https://coinmarketcap.com/legal-tender-countries/

They are El Salvador and Central African Republic and I agree that Argentina is going to make Bitcoin legal tender in their country. It won't happen in 2023 as the year is counting down its last 9 days that are not enough for Argentina to do it.

This isn't complete approval, is it, like Salvador adopting it for transactions in general?
Mentioning the term "agreeing to the contract" can be in specific transactions, I think it is only in large amounts for certain people. Or not directly using bitcoin, just advantaging its value (whatever way).

We saw El Salvador become the first country to accept Bitcoin as legal tender, and since then many countries have adopted Bitcoin.

This time maybe Argentina is about to legalize bitcoin in their country. We heard the news after Argentina's new president, Javier Milli, won the election.
Today I saw confirmation from Argentina's appointed Minister of Foreign Affairs that officially approved the agreement to legalize the use of Bitcoin in Argentina.

We saw that people in Argentina have adopted digital currencies such as Bitcoin and USD in recent years.
If Argentina formally approves the agreement to legalize Bitcoin, it would be the first step toward potentially wider crypto adoption in the country.

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Get it here: https://www.fxempire.com/news/article/argentina-approves-bitcoin-btc-as-official-currency-1397688