Proposed bill in Argentina encourages citizens to reveal crypto holdings

Argentina’s Ministry of Economy, the country’s economic policy manager, has drafted a bill to encourage Argentines to declare their cryptocurrency holdings, using the inducement of discounted tax rates.

Aimed at combating

The bill will be tabled and discussed in the next parliamentary session.

Emerging markets are a hotbed for crypto adoption, with Argentina rankin13th overall in the 2022 Global Adoption Index from blockchain data firm Chainalysis.

Argentines have been lured to crypto due to high inflation in the country and its ease of use for cross-border transactions. Argentina’s inflation rate almost hit 72.4% in 2022, according to Statista data.