Argentina implements new policy to encourage crypto investors to register crypto assets with the government

PANews reported on July 19 that the Argentine government signed a fiscal plan this week that includes a tax amnesty for individuals who declare $100,000 (including registered crypto assets). Roberto Silva, chairman of the Argentine National Securities Commission, said the amnesty could ease pressure from the Financial Action Task Force (FATF). According to an analysis report from the International Monetary Fund (IMF), the FATF threatened to put Argentina on the gray list, a move that would strengthen monitoring of the country and could stifle foreign direct investment, raise international interest rates, and potentially lead to a decline in GDP. Silva said the registration of crypto assets is the first step in regulation. He hinted that the rules may follow those implemented by the United States. Experts say the move could help Argentina regulate its cryptocurrency market. In May and June of this year, Argentina stepped up its crackdown on cryptocurrency-related crimes. The prosecutor's office conducted 64 raids at the same time, arresting 20 domestic and 10 international criminals involved in smuggling, money laundering and illegal gambling. Argentina's leaders will meet with the FATF in Paris in October as the task force continues to assess Argentina's money laundering and terrorism financing risks. [Reuters]