Argentine Inflation Skyrockets to Almost 80% YoY as Crypto Adoption Grows
Argentine inflation numbers were revealed last week, with the interannual Consumer Price Index (CPI) registering record levels reaching 78.5%. This puts the country second only to Venezuela in Latam in terms of high inflation, with prices rising almost 8% during August, hitting the pockets of Argentines. According to a survey by Bitso, this has caused Argentines to explore cryptocurrencies as a way of keeping their purchasing power via stablecoins. Argentine Inflation Keeps Growing, Expected to Reach 100% This Year Inflation is becoming a big problem for some countries in Latam....
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The Argentine Tax Authority (AFIP) is ramping up its fight against cryptocurrency-related tax evasion. On Oct. 28, the organization informed it had sent notifications to 3,997 taxpayers about incongruencies between their tax statements and reports on their cryptocurrency holdings. These statements being reviewed correspond to reports of operations happening in 2020. Argentine Tax Authority AFIP Ramps up Crypto Vigilance The Argentine Tax Authority (AFIP) is using the reports coming from local exchanges to cross the data in the tax statements and the crypto holdings of several taxpayers and....
The Argentine tax authority (AFIP) found three different clandestine cryptocurrency mining farms last week. The farms were located in San Juan and in the city of Cordoba. More than $600,000 in hardware was found at just one of these locations, and the high level of power consumed helped the institution track these farms.
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The Argentine tax authority (AFIP) has put its eyes on the business of illegal cryptocurrency mining and has already detected three clandestine cryptocurrency farms in the last week.....
While inflation continues to roar in the U.S., the inflation rate in the eurozone tapped another high last month reaching 7.5% in March. Energy and food prices have soared throughout the 19 member state economies, and European Central Bank president Christine Lagarde expects energy prices to “stay higher for longer.”
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A proposal to eliminate the physical representation of the Argentine Peso, in order to streamline specific state processes and reduce tax evasion, has been presented by former banker Carlos Maria De Los Santos. The plan, identified as “Argentine Digital Peso,” also predicts that its implementation would lead to lower taxes and bring a surplus to the Argentine economy. Digital Peso Proposal to Stop Tax Evasion On Nov. 4, former Argentine banker and president of the Productive Inclusion Foundation Carlos Maria De Los Santos unveiled a proposal called the “Argentine Digital....