According to Odaily Planet Daily, the Argentine government signed a fiscal plan this week to grant tax amnesty to individuals who declare $100,000 (including registered crypto assets). Roberto Silva, chairman of the Argentine National Securities Commission, said the amnesty could ease the pressure on the Financial Action Task Force (FATF).
According to an analysis by the International Monetary Fund (IMF), the FATF has threatened to place Argentina on the grey list, a move that would increase monitoring of the country and could stifle foreign direct investment, raise international interest rates, and potentially lead to a drop in GDP. Silva said that the registration of crypto assets is the first step toward regulation, suggesting that the rules could follow those implemented in the United States.
Experts say the move could help Argentina regulate its cryptocurrency market. In May and June, Argentina stepped up its crackdown on cryptocurrency-related crimes, with the prosecutor's office conducting 64 raids and arresting 30 criminals linked to smuggling, money laundering and illegal gambling. Argentina's leaders will meet with the FATF in Paris in October to continue assessing Argentina's money laundering and terrorism financing risks.