by players and clubs alike in the country. However, this would be the first time clubs could accept cryptocurrencies as a form of payment for international transfers to regain a competitive advantage in the market for their players.
Despite its novelty, the cryptocurrency transaction involving Galoppo will still be subject to regulations. According to Bloomberg, Argentine central bank sourcesthat Galoppo’s transfer is an export operation. As a result, Banfield will be forced to liquidate their USDC into local currency, pesos, using the official exchange market.
On the other hand, it remains unclear how the pro footballer chooses to exchange USDC to the official exchange market directly while allowing the club to resist the central bank’s measures.A recent study conducted by Big Four accounting firm Deloitte revealed the potential of the crypto ecosystem in redefining revenue streams and fan engagement across the sports industry.
The report anticipates crypto to bring about a nexus “around sports collectibles, ticketing, betting, and gaming.” For example, with
Source: News Formal (newsformal.com)
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