Argentina’s President Javier Milei has opted to remove proposed cryptocurrency taxes from a controversial omnibus reform package. It’s a strategic move to expedite the approval of the sweeping set of reforms and avoid long debates on matters he deems less critical.

The “Ley Ómnibus” bill—formally known as the “Law of Bases and Starting Points for the Freedom of Argentines”—initially included provisions requiring taxpayers to declare ownership of previously undeclared assets, including cryptocurrencies. However, in removing those clauses, Minister of Interior Guillermo Francos said there is a greater need for rapid economic development and legislative efficiency.

“The tax part was smaller and delayed treatment,” Francos stated, emphasizing the government’s focus on achieving consensus on more agreeable aspects of the bill.

With the legislative pivot, the implications for cryptocurrency holders in Argentina remain a topic of concern and confusion. Holding crypto or paying with it is not and won’t be taxed, apparently, but selling big amounts at profit is.

“In the case of an individual, merely purchasing what the law refers to as ‘digital currency’ does not incur a tax,” Marcos Zocaro, an accountant with knowledge of the matter, Go to Source to See Full Article
Author: Jose Antonio Lanz

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