Argentina's President Proposes Legalizing Cryptocurrency Assets for Favorable Tax Rates

According to Foresight News, Argentina's newly elected President Javier Milei has proposed a draft bill that would allow Argentinians to declare their domestic and foreign cryptocurrency assets for favorable tax rates and legalize these assets in the country, regardless of their origin or location. The asset regularization plan is part of a broader set of proposed economic and political reforms. In November last year, Milei praised Bitcoin during his election campaign, and the crypto market widely welcomed his victory. However, his comprehensive bill faced strong opposition and protests in the country shortly after its launch on Tuesday.