Argentina's Lower House has passed a new bill creating a path to legalize previously undeclared crypto holdings. Here's the gist:
- Tax Amnesty for Small Amounts: Individuals can declare up to $100,000 worth of crypto without any penalties or fees.
- Graded Taxation for Larger Amounts: For holdings exceeding $100,000, there will be a tax levied at a rate that gets better depending on when the crypto is declared.
This new legislation is a major development for Argentina, signaling the government's willingness to embrace and regulate cryptocurrency within the country.
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