Argentina: Introduced Asset Regularisation Regime Including Cryptocurrency Taxation

On 27 December 2023, the Law of Bases and Starting Points for the Freedom of Argentines was introduced into the Congress of Argentina, which includes an "Asset Regularization Regime". This regime, which is open for adherence until 30 November 2024, requires taxpayers to declare their assets, including cryptocurrencies, and pay a flat tax on these assets. The tax rate varies from 5% to 15%, depending on the declaration date. The law recognises the global and decentralised nature of cryptocurrencies, requiring them to be valued at the higher of the market value at the date of regularisation or their acquisition cost. This regulatory approach aims to integrate cryptocurrencies into the formal economy, ensuring they are declared, taxed, and regulated similarly to other assets.