Argentina plans to launch cross-border exchange of crypto-asset transaction data by 2029

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【Argentina to share crypto-asset transaction data by 2029, involving 77 jurisdictions】

Argentina has agreed to implement the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development (OECD), and plans to automatically exchange crypto transaction data with other jurisdictions by 2029. 77 jurisdictions have now joined the framework. Under the framework, virtual asset service providers are required to report user identity information, as well as data on crypto-asset purchases and sales using fiat currency, digital-asset exchanges, digital-asset payments, and transfers between external addresses. Argentina will receive information on overseas transactions and share data relating to its domestic users with international regulators. Argentina must establish domestic regulations by 2028 to clarify data-collection requirements and rules governing virtual asset service providers' reporting of information to tax authorities. The framework aims to apply information-reporting standards to crypto-asset transactions that are similar to those for fiat-currency transactions, helping tax authorities identify cross-border tax evasion.

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Key points

Argentina has agreed to implement the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development.
It plans to automatically exchange crypto transaction data with other jurisdictions by 2029, and 77 jurisdictions have joined the framework so far.
Virtual asset service providers must report user identity information and multiple types of crypto-asset transaction data.
Argentina must establish domestic regulations by 2028 to clarify data-collection and reporting rules.
The framework aims to help tax authorities identify cross-border tax evasion.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This means Argentina plans to require relevant service providers to collect and report user and transaction information, and to automatically exchange this data with other jurisdictions.

Why it matters to readers

Information-reporting standards for cross-border crypto-asset transactions will become more similar to those for fiat-currency transactions, enabling tax authorities to identify cross-border tax evasion.

Users of crypto assets may face additional requirements to report identity and transaction information in the future.

Risks and unknowns

The original text does not provide specific details of Argentina's domestic regulations.
The original text does not state whether the plan has been fully implemented.

Argentina plans to launch cross-border exchange of crypto-asset transaction data by 2029

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