Argentina’s province to issue US dollar-pegged stablecoin By Cointelegraph
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The province of San Luis in Argentina approved legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the “Activo Digital San Luis de Ahorro,” will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of the province.
The bill authorizes the province to issue the stablecoin up to 2% of its annual budget. It also stipulates that assets can be transferred between parties, but it does not specify which chain will be used for the transactions. The province of San Luis is home to over 430,000 people.
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The province of San Luis in Argentina approved legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the “Activo Digital San Luis de Ahorro,” will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of the province.
The bill authorizes the province to issue the stablecoin up to 2% of its annual budget. It also stipulates that assets can be transferred between parties, but it does not specify which chain will be used for the transactions. The province of San Luis is home to over 430,000 people.
Continue Reading on Coin Telegraph
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