The newly formed government of Argentina, led by libertarian Javier Milei, has introduced a bill to ease the path to legalizing cryptocurrency holdings, even for those who have not declared their taxes. The bill, known as the Law of Bases and Starting Points for the Freedom of Argentines, encompasses various reforms in tax, labor, criminal, energy, and electoral matters, reflecting Milei’s controversial reformist agenda.
Within the 351-page bill, there are provisions related to cryptocurrency and tax-paying procedures. Specifically, there is a section dedicated to an “asset regularization scheme,” which allows taxpayers to legalize their assets without requiring additional documentation on their origin. Under this scheme, taxpayers would only need to pay a flat tax on their assets, with rates ranging from 5% to 15% depending on the declaration date.
It is worth noting that in December, Argentina’s Minister of Foreign Affairs, International Trade, and Worship, Diana Mondino, announced a decree aimed at economic reform and deregulation. Although the decree did not explicitly mention cryptocurrencies, it included provisions allowing debtors to pay in currencies not recognized as legal tender in Argentina, potentially including cryptocurrencies like Bitcoin.
Javier Milei’s rise to power comes at a time of significant inflation in Argentina. He has previously expressed support for Bitcoin, referring to it as a means to return money to the private sector. However, since taking office, he has not publicly discussed digital assets.
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| Information | Details |
|---|---|
| Geography | South America |
| Countries | 🇦🇷 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Javier Milei, Diana Mondino |
| Companies | private sector, Bases and Starting Points for the Freedom of Argentines, Bases for the Reconstruction of the Argentine Economy, asset regularisation scheme, Argentine Congress |
| Currencies | Bitcoin |
| Securities | None |
