Argentina to Share Cryptocurrency Trading Data from 77 Jurisdictions by 2029

Argentina has agreed to implement the Cryptocurrency Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD), planning to automatically exchange cryptocurrency trading data with 77 jurisdictions by 2029. Under this framework, virtual asset service providers are required to report user identity information and data related to cryptocurrency transactions using fiat currency, digital asset exchanges, digital asset payments, and transfers between external addresses. Argentina will receive information on overseas transactions and share relevant data about its domestic users with international regulatory bodies. Argentina must establish domestic regulations by 2028 to clarify data collection requirements and the rules for virtual asset service providers to report information to tax authorities. This framework aims to align the information reporting standards for cryptocurrency transactions with those for fiat transactions to assist tax authorities in identifying cross-border tax evasion activities.

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