Argentina’s Economy Minister has drafted and submitted to Congress a bill aimed at combating money laundering, the Argentine Savings Externalization Law, which would incentivize Argentine citizens to declare their cryptocurrency holdings at a preferential tax rate. The bill would require cryptocurrency holders to provide an affidavit, a sworn statement confirming to the government the destination of their currency. The bill proposes tax incentives to encourage citizens to declare their assets. Within 90 days of the law taking effect, people who voluntarily declare their cryptocurrency holdings will only have to pay a 2.5% capital gains tax on their cryptocurrency holdings. The rate will increase every 90 days until the country's standard capital gains tax rate of 15% is reached.