Argentina to tax 0.6% on the exchanges on cryptocurrency

On Wednesday, the office of Argentine President Alberto Fernandez announced a tax on cryptocurrency exchanges.

“We will apply a 0.6 percent tax to all transactions in this market,” he said. “We consider that this is a fair measure.”

Argentina is taking a step in the right direction and seeking to regulate cryptocurrency and tax it like any other asset – and hopefully, it is not too late for Venezuela to do the same before they see their currency collapse like they did last year.

Experts think that these countries are doing this because they are trying to prevent money laundering, but there are also some other benefits for doing so – such as making sure that people are paying their taxes.

The 0.6% tax on bank credits and debits currently applies only to certain banking transactions carried out by companies operating in Argentina.

Until now, crypto exchanges did not pay taxes because they were part of an exemption that applies to fintech companies registered as payment service providers (PSP).

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