Argentina Joins Global Crypto Reporting Network by 2029
- Argentina has agreed to implement the Crypto Asset Reporting Framework (CARF) by the Organization for Economic Co-operation and Development (OECD) by 2029.
- The framework involves sharing user transaction data globally, including user IDs, crypto purchases, sales using fiat money, digital asset exchanges, and transactions with external addresses.
- Argentina must establish internal laws by 2028 to enable data collection and reporting from virtual asset service providers (VASPs).
- This initiative aligns crypto oversight with traditional fiat tracking to combat global tax evasion.
- Gaël Perraud, Chair of the Global Forum, emphasized Argentina’s significant step in addressing tax evasion risks associated with increased crypto use.
Argentina’s commitment to the CARF is a crucial move towards enhancing transparency in crypto transactions globally. By implementing these standards, Argentina aims to equip its tax authorities with necessary information on international crypto-asset transactions.
This initiative will ensure that Argentine regulators have access to comprehensive transaction data both domestically and internationally by the year after its full implementation in 2029. (Source)
