Argentina’s Authorities Urge Citizens to Declare Their Crypto Holdings

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The Ministry of Economy of Argentina has recently developed a bill that will encourage citizens to provide information about digital assets.

The document has been created at the initiative of the head of department, Sergio Massa. According to local media outlets, it will become part of a large-scale project of the authorities to combat money laundering.

A growing number of citizens who purchase digital currencies has been observed in the country, as they do not trust fiat money due to the inflation that has hit the country. The country’s tax administration forced all crypto exchanges to provide information about user transactions 2 years ago.

If the bill is eventually adopted, then the state will be able to identify citizens who keep capital in virtual currencies.