The Argentine government of Javier Milei, known for its pro-Bitcoin positions, has just presented a bill removing the possibilities for tax declaration of cryptos until now in force.
Argentina will no longer tax the holding of Bitcoin and other cryptos
The new Argentine government led by President Javier Milei, known for his ultra-liberal and pro-Bitcoin positions, presents an ambitious bill to Parliament: the “Law of bases and starting points for the freedom of Argentines”.
Carried by the Minister of the Interior Guillermo Francis, this law Project aims to relax Argentine taxation in several areas. It nevertheless excludes any mention relating to cryptos, thus preventing their tax declaration.
Until now, holders of digital assets could in fact declare their assets and pay an advantageous fixed tax: 0% below $100,000 and 15% beyond. This popular advantage disappears, sparking controversy.
Some criticize unjustified tax treatment, contrary to Javier Milei’s stated support for cryptos. Minister Guillermo Francis cites a political disagreement on this specific point.
A strong political signal for the future of crypto
If the project is validated, owning cryptos will remain untaxed in Argentina, explains accountant Marcos Zocaro. Only capital gains made on resale will remain taxed, below a certain threshold.
“ In the case of a natural person, for the simple fact of purchasing what the law calls digital currency, no tax is paid. What is taxed on profits is the profit produced by the sale and there is also a minimum below which there is no tax to pay“.
On the other hand, cross-border transfers of cryptos will remain taxed at 5 to 15%. An incentive measure to encourage the arrival of foreign crypto capital, according to experts.
Despite this major change, the government continues to actively support the sector. The project also authorizes the declaration of cryptos without proof of origin.
Diana Mondino, Minister of Foreign Affairs, also reaffirmed on X that cryptocurrencies will have their place in Argentina under certain conditions.
Although it could be improved, this bill therefore reflects Javier Milei’s desire to make Argentina a welcoming land for the crypto ecosystem. Case to be followed very closely in Parliament in the coming weeks.
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