Argentina has announced new taxation for crypto transactions based on the existing credits and debts. The announcement came on Wednesday reversing the earlier exemptions granted to third-party payment service providers and businesses. The official decree read,
“The exemptions provided for in this decree and in other regulations of a similar nature will not be applicable in those cases in which the movements of funds are linked to the purchase, sale, exchange, intermediation and/or any other operation on cryptoassets, cryptocurrencies, digital coins, or similar instruments, in the terms defined by the applicable regulations,”
Crypto transactions made by individuals were considered exempt from taxation earlier, however, the new regulations effective immediately would now incorporate tax on individual transactions as well. The crypto taxation comes just months after speculations about the Argentinian government looking to incorporate cryptocurrencies in the financial system. There wer
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