province of San Luis in Argentina.approveLegislation that allows the issuance of its own stablecoin pegged to the US dollar. The token, dubbed “Activo Digital San Luis de Ahorro,” will be available to all citizens of the province over the age of 18 and is 100% guaranteed on the province’s liquid financial assets.
The bill allows provinces to issue stablecoins up to 2% of their annual budget. It also stipulates that assets can be transferred between parties, but does not specify which chain will be used for the transaction. by Shan Province Louis has a population of over 430,000.
The issuance of stablecoins is just one of the initiatives described in the bill. “Innovation Finance for Investment and Socio-Economic Development”, which aims to promote development in various sectors in the province through blockchain technology. Including creating value and improving the audit process.
In addition to stablecoins, the law also allows local artists to issue NFT tokens with the aim of promoting financial and cultural inclusion.
“SAN LUIS ART DIGITAL ASSETS” will be a collection of art from the province. To give local artists the opportunity to digitize their work and launch it in the digital market through an internal web platform for buying and selling. which for creating these collections It uses NFT (Non Fungible Token – Token No Fungible) technology to make this digital art unique. as well as providing ownership and authenticity to the artist or digital asset holder.”
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