Argentinean Federal Administration of Public Revenue (AFIP) ordered all virtual currency-related transactions to be reported every month in an effort to hunt tax evaders who trade cryptocurrencies.
According to Bae Negocios, the local tax authority issued a “Form 8126” and forwarded it to every single digital asset exchange in the country that will have until the 15th of the month following the month reported to fill it out.
The exchanges should report the list of accounts with which they identify each of the clients; registrations, cancellations, and modifications that occur, total amounts of income, expenses and final monthly balance of the wallets.
Even domestic payment gateways like Mercado Pago, that users can use to buy cryptos such as bitcoin via P2P platforms, will be subject to the scrutiny of the AFIP.
The measure is result of the Central Bank of Argentina (BCRA) request in April 2021 for domestic banks to forward them info on its customers who deal with bitcoin and perform any other kind of digital asset transactions, suggesting that authorities are assessing ways to regulate the local virtual currency sphere.
According to Bitcoin.com, most Argentineans buy bitcoins, but also USD-pegged stablecoins, such as dai, usd coin and tether.