The Argentinian province of San Luis has passed a bill allowing it to issue a dollar-pegged stablecoin. The new law will also give local artists the chance to have their work minted as NFTs.
The bill, called “Financial Innovation for Investment and Social Economic Development” is the latest step for the region’s move towards digitization. The purpose of the law is to harness blockchain for the region’s benefit. These benefits include “financial innovation”, and “social, economic, cultural, and financial inclusion.”
What Is In The New Law?
The law’s potential stablecoin will be 100% collateralized in the liquid financial assets of San Luis. All citizens of the state will have access to it once it becomes available. It is currently unclear how this stablecoin will function, as the current law merely creates a pathway to creation.
The law also gives the State government a broad range of powers with regard to…
