Argentina Commits to OECD Crypto Asset Reporting Framework by 2029

Argentina has committed to implementing the OECD’s Crypto-Asset Reporting Framework and to begin automatic exchange of tax information on crypto asset transactions by September 2029 at the latest. According to ChainCatcher, Argentina must incorporate the framework into domestic law by 2029 and define reporting obligations for relevant crypto asset service providers. Trading platforms, intermediaries, and other related service providers will be responsible for identifying eligible users and collecting names, addresses, tax residency, taxpayer identification numbers, and transaction data covering crypto asset purchases, sales, and transfers. The measure will not create a new tax or automatically impose new tax obligations on users. Argentina’s tax authority, ARCA, will be able to receive standardized information on overseas crypto asset transactions by local residents and compare it with tax filings. The first annual reporting period under the mechanism has not yet been publicly determined.