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The Argentine Tax Agency backs the creation of a global crypto-reporting system to combat tax evasion.

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The creation of a cryptocurrency holder registry is supported by the Argentinian tax agency. The Argentinian national tax collection agency, AFIP, aims to improve its efficiency in collecting cryptocurrency-related taxes.

Financial data has previously been used by the organisation to collect taxes from Argentinian users with bank accounts in other countries. This would make it easier for tax authorities throughout the world to combat tax avoidance. The Argentine Tax Office was able to add digital wallets, or monies saved on fintech platforms, among the assets that can be confiscated to pay for tax obligation.

This law gave the organisation the authority to intervene in over 5,000 situations when the taxpayers had no alternative assets to confiscate. The group began monitoring cryptocurrency traders’ activities in March.

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