Cryptocurrency Regulations and Laws in Argentina
Learn about cryptocurrency regulations in Argentina. Discover how crypto is taxed, how exchanges comply with AML laws, and the country’s evolving approach to VASP legislation amid high adoption rates.
Argentina has emerged as one of Latin America’s most crypto-active countries, driven by economic instability and currency devaluation. While crypto is legal to own and trade, it’s not recognized as legal tender, and the country is working on frameworks for regulation and taxation.
Summary
Cryptocurrencies are legal in Argentina and widely used for trading and remittances. Although not formally regulated, exchanges operate under general financial and anti-money laundering (AML) rules. The government is exploring regulations to provide clearer guidance for businesses and users.
Legal Status
- General Use: Legal
- Trading: Legal but largely unregulated
- Exchanges: Legal; must comply with AML regulations via UIF registration
- Mining: Legal and growing, though mining hardware may face import restrictions
- ICOs & Tokens: Not specifically regulated
- NFTs: Legal; treated as digital assets
Taxation
The Federal Administration of Public Revenues (AFIP) treats crypto gains as taxable income. Transactions in crypto or with crypto assets may also trigger VAT or financial transaction levies.
- Capital Gains Tax: Yes – profits are subject to income tax under general rules
- Income Tax on Crypto Earnings: Yes – applies to mining, trading profits, and staking yields
- Mining Taxation: Taxed as business income if operated commercially
- Reporting Requirements: Mandatory – crypto holdings and gains must be declared; UIF monitors exchanges
Regulatory Bodies
- Federal Administration of Public Revenues (AFIP): Manages taxation and reporting
- Financial Information Unit (UIF): Oversees AML compliance; requires registration as crypto exchange
- Central Bank of Argentina (BCRA): Warns against crypto for payment, but does not ban it
Key Regulations & Laws
- 2018 UIF Resolution: Required crypto exchanges to register and report suspicious transactions
- 2020 Central Bank Warnings: Alerted public against using crypto for payments or saving
- 2023 AFIP Guidance: Clarified crypto-tax reporting and enforcement
- Ongoing Draft Law: Proposed to regulate VASPs, stablecoins, and ICOs, currently under congressional review
Timeline of Regulatory Milestones
| Year | Event | Description |
|---|---|---|
| 2018 | UIF registration begins | Exchanges must register and comply with AML laws |
| 2020 | BCRA advisory issued | Warned against crypto use for savings and payments |
| 2021 | Crypto tax guidance | AFIP issues instructions for income and capital gains |
| 2023 | Blockchain bill proposed | Draft law addressing VASPs and token oversight |
| 2025 | Monitoring framework | UIF & AFIP enhance oversight of crypto businesses |
Resources
- AFIP – Crypto Tax Information
- UIF – AML Requirements for Crypto
- Central Bank of Argentina Notices
- Draft Crypto Asset Bill Coverage
Notes
- Travel Tip for Crypto Users: Crypto is widely accepted in P2P markets and select merchants despite regulatory uncertainty.
- Local Adoption Trends: Argentina ranks among the highest in crypto adoption, used as a store of value and for remittances.
- Language Notes: Official documents are in Spanish; several legal summaries are available in English.