FATF Pressure Prompts Argentina’s Crypto Tax Amnesty and Regulatory Overhaul

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Argentina announces a new regulatory policy involving a fiscal package of tax amnesty.
The tax amnesty is meant for traders who own up to $100,000 worth of assets, including crypto tokens.
The new regulatory plan helps to ease the pressure exerted by the FATF.

Argentina, a haven for cryptocurrency transactions with over $85.4 billion in activity last year, is introducing a new regulatory framework aimed at both encouraging compliance and curbing illicit activities. The government has unveiled a tax amnesty program for crypto traders holding up to $100,000 in assets, a move that officials believe could help alleviate pressure from international regulatory bodies.

National Securities Commission President Roberto Silva asserted that the tax amnesty could help ease pressure from the Financial Action Task Force (FATF). The FATF is a regulatory body affiliated with the World Bank, IMF, and United Nations.

The government’s move follows increased FATF scrutiny of the country’s financial economy. Reportedly, the FATF has threatened to add Argentina to its gray list, which could significantly impact foreign investments, international interest rates, and GDP growth.

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