Bitcoin Payment Term Begins in Public Transport!

Bitcoin Payment Term Begins in Public Transport!

Bitcoin is now available for public transport in Argentina.

Thanks to the cooperation between Alto Viaje , which provides filling services for public transport cards, and the financial technologies company Bitex , it is now possible to pay for public transport in 37 regions of Argentina by paying with Bitcoin .

This is a small step for Bitcoin because integrating Bitcoin and other crypto coins into everyday life is no longer something new. However, the inclusion of crypto coins in daily life in Argentina is a very important development for Argentina. In Argentina, only 2 crypto money ATMs were in service until 2018, and these ATMs were in Buenos Aires, the capital of the country. Bitex CMO Manuel Beaudroit said:

We believe that such projects are of great importance as they have introduced Bitcoin to society.

In Argentina, SUBE cards can be charged with Bitcoin at all stations and national ticket sales offices. The main goal of Alto Viaje was to make credit filling operations as easy as possible. Alto Viaje added PayPal support to the platform before accepting payments with Bitcoin . Alto Viaje will soon begin to accept payments from Argentina-based payments service RapiPago too.

Demand for Bitcoin is rising!
Argentina is in the grip of high inflation, just like any other South American country. Many Argentines are troubled by the economic situation in the country. For this reason, people started to turn to alternative currencies like Bitcoin in order to prevent their money from losing their value. In recent months, the transaction volume in the country’s LocalBitcoins is constantly increasing. We also announced that in December 2018, 7 new crypto money ATMs will be established in Argentina .

G20 Ended: Crypto Coins included in the Closing Notice

G20 Ended: Crypto Coins included in the Closing Notice

The latest communiqué of the G20 Leaders Summit, which ended on 1 December, also included crypto coins.

Although some countries have started to regulate crypto coins in various ways, most countries are still uncertain about crypto money regulations. However, this could soon change with the regulatory pressures of the G20, which is attended by senior officials from all over the world.

Argentina ended in Buenos Aires on Saturday (December 1st) with the joint declaration of fair and sustainable development adopted by the presidents of the G20 Leaders Summit. In a statement, it was stated that an open financial system is very important for supporting economic growth. At the same time, international standards such as crypto currencies are required to regulate new technologies.

G20 leaders gave the following statements:

We will continue to monitor the risks and weaknesses that arise in the financial system, if necessary; We will continue to work on regulatory and supervisory cooperation. We hope to continue to progress in providing durable and non-bank financial intermediation. While reducing the risks, we will increase efforts to ensure the potential benefits of this technology in the financial sector. We will organize crypto assets in accordance with the FATF (Financial Action Task Force) standards to prevent money laundering and to prevent terrorism financing. We will also consider other responses if necessary.

Buenos Aires’s route

G20 is an international forum where government officials and central bank officials gather from the 20 largest economies in the world. G20 members represent 85% of the global economic output, 66% of the world’s population and 75% of international trade.

In February, high-ranking officials from France and Germany called on G20 countries’ finance ministers to discuss the regulatory impact of crypto coins and tokens. Finally, in July, G20 member countries’ finance ministers and central bank officials expressed their opinion that the crypto currencies do not pose a risk to financial stability.